GUS Lender User Guide December 2010 - USDA
GUS Lender User Guide December 2010
GUS User Guide
TABLE OF CONTENTS
SECTION 1...................................................................................................................................... 4
GUS PAGE ORIENTATION ......................................................................................................... 5
SECTION 2.................................................................................................................................... 12
ENTERING A PURCHASE LOAN.............................................................................................. 13 Eligibility.................................................................................................................................. 13 Loan Terms ............................................................................................................................ 19 Borrower ................................................................................................................................. 21 Employment............................................................................................................................ 23 Income and Expenses ............................................................................................................ 24 Assets and Liabilities .............................................................................................................. 27 Transaction Details................................................................................................................. 32 Additional Data ....................................................................................................................... 37 Credit / Underwriting............................................................................................................... 42 View Findings ......................................................................................................................... 48 Final Submission .................................................................................................................... 62
SECTION 3.................................................................................................................................... 66
ENTERING A REFINANCE LOAN ............................................................................................. 67 Loan Terms ............................................................................................................................ 67 Assets and Liabilities .............................................................................................................. 68 Transaction Details................................................................................................................. 70 Additional Data ....................................................................................................................... 71
SECTION 4.................................................................................................................................... 73
ENTERING A NEW CONSTRUCTION LOAN ........................................................................... 74 Loan Terms ............................................................................................................................ 74 REO ........................................................................................................................................ 74 Assets and Liabilities .............................................................................................................. 75 Transaction Details................................................................................................................. 76 Additional Data ....................................................................................................................... 77
SECTION 5.................................................................................................................................... 78
ISSUING CREDIT ...................................................................................................................... 79 Request New Credit Report ................................................................................................... 79 Request Reissued Credit Report............................................................................................ 82 Additional Credit Tips ............................................................................................................. 82 Potential Credit Errors ............................................................................................................ 83
GUS Lender User Guide December 2010
Table of Contents
SECTION 6.................................................................................................................................... 85
ENTERING REO PROPERTIES................................................................................................ 86 REO Property Information ...................................................................................................... 86 Property Disposition of Pending Sale..................................................................................... 88 Property Disposition of Rental Properties .............................................................................. 89 Property Disposition of Retained............................................................................................ 90 Property Disposition of Sold ................................................................................................... 90 REO Property with a Mortgage Liability ................................................................................. 91 REO Property without a Mortgage Liability ............................................................................ 92
SECTION 7....................................................................................................................................93
IMPORTING A LOAN INTO GUS.............................................................................................94
GUS Lender User Guide December 2010
Table of Contents
GUS User Guide Section 1 GUS Page Orientation
4 GUS Lender User Guide December 2010
Section 1 GUS Page Orientation
GUS PAGE ORIENTATION
Each GUS page contains features that assist the user in navigating through an application with ease. Navigation buttons specific to each page, scroll bars, and system messages are available to provide a user friendly experience.
THE OPTIMAL SCREEN RESOLUTION FOR VIEWING GUS IS 1024 x 768
Page Frames: Each page includes a primary frame (bars above and around the screen). The header, footer, and left navigation menu bars remain fixed while scrolling through pages.
GUS Lender User Guide December 2010
Scroll Bars: GUS pages feature a scroll bar on the right side of the application page to view entire application pages from top to bottom.
Users should scroll through each GUS application page to ensure all data fields are completed before advancing to a new page.
Some pages feature a scroll bar at the bottom of the application page which allows the user to view the entire page from left to right, as some data fields extend across the application page.
Page Header: The page header will appear at the top of each GUS application page.
"Borrower Name" will display the primary borrower, Lender Loan Number, and Application ID Number once the "Borrower" page has been saved.
"Lender Loan Number" populates from the loan number entered by the user on the "Loan Terms" page.
"Application ID Number" is a unique number assigned to the GUS application, NOT the borrower. It will populate a random number assigned by GUS once the "Borrower" page is saved.
5 Section 1
GUS Page Orientation
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