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4/19 Beta, 5/17 Prod
Purpose of Update and Benefit:
This feature surfaces new fields in the lender application page and the Details of Transaction page when a lender chooses “USDA Rural Development” for Mortgage type.
Current Behavior
Currently, the lender application does not surface any additional fields when “USDA Rural Development” is chosen in the Mortgage type dropdown.
There are no additional fields added to the Details of Transaction page.
New Behavior
When this feature is enabled, the lender application in Blend will show additional fields related to USDA loans if the mortgage type “USDA Rural Development” is chosen.
These same fields will appear in the Details of Transaction page under “Other details of transaction” section.
Depending on your pricing engine, if the monthly 0.35% mortgage insurance premium for USDA loans is included in the pricing engine integration, this will be included as a proposed housing expense on the Monthly Debt page.
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