Effective immediately, the maximum hazard insurance deductible for any USDA Guaranteed Loan delivered to ServiSolutions cannot exceed the higher of 1 percent of the face value of the policy or $1,000.
This replaces the previous deduction of the higher of 2.5 percent of the face value of the policy or $2,500 accepted for all loan types.
This change impacts
only USDA loans.
Edits to the Loan Delivery Guide reflecting this change will be made soon.