Transcription of Pre-Qualification and Application Processes
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Pre-Qualification and Application Processes
Slide 1 Section 502 Direct Loan Program s Pre-Qualification and Application ProcessesPresented by Tammy RepineSingle Family Housing Direct Loan DivisionRevision Date: October 24, 2017 The purpose of this presentation is to give viewers a basic overview of the Section 502 direct loan program s Pre-Qualification and Application Processes . While this recorded webinar is targeted to Rural Development (RD or Agency) staff, others (such as loan Application packagers) may find the covered materials useful. Slide 2 Copyright 2015 Accenture All Rights ProcessA Pre-Qualification involves using unverifiedinformation from an interested party to evaluate the likelihood of them being able to obtain a Section 502 direct loan.
• The infile credit report is a “hard hit” on the interested party’s credit and may adversely affect their credit score. • The interested party may not report their income correctly (i.e. they may tell you their net income as opposed to gross income; or …
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