Bulletin 2022-076 USDA Product Enhancements

USDA Product Enhancements

Newrez LLC "Newrez" Approved Correspondent Clients: Newrez has removed certain overlays and updated our USDA product summaries and underwriting guidelines.


As part of this update, Newrez will now allow for manual underwriting, manufactured housing, and lower credit scores. These changes are effective immediately for all new locked loans and loans in pipeline.


The product summaries have been updated to reflect these changes. In addition, USDA chapters have been created and are located in the Newrez Underwriting Guide.


Manual Underwriting


Manual underwriting is permitted with the following criteria:


  • GUS Refer or Refer with Caution
  • Primary residence
  • Minimum 600 credit score
  • 29/41 maximum ratios
  • Debt Ratio Waivers permitted per USDA guidelines


Minimum Credit Score


Newrez has improved the minimum credit score requirements for GUS Accept/Eligible loans.



Current Guideline

New Guideline

Purchase and Rate & Term (Non-Streamlined) Refi



Streamlined Refi



Streamlined-Assist Refi




Manufactured Housing Pilot Program


Previously, existing manufactured homes were not eligible unless the home was financed through USDA. With this update, the purchase or refinance of an existing manufactured home, in any of the Pilot states below, is now permitted. 


Existing manufactured homes located in the following Pilot states are eligible: CO, IA, LA, MI, MS, MT, NV, NH, NY, ND, OH, OR, PA, SD, TN, TX, UT, VA, VT, WA, WV, WI, WY.


Pilot program loans must be manually underwritten and comply with all requirements for manufactured housing in the USDA UW Guide.


New construction manufactured homes are eligible in all states and may follow GUS standards.