The U.S. Department of Agriculture has launched a new pilot program allowing selected lenders to close certain USDA-guaranteed rural home loans without waiting for the agency’s usual pre-closing approval.
The Delegated Authority Lender Interactive Test Environment, or LITE, Pilot Program, began September 1st and will run through September 28th, 2028.
Six lenders are participating in the initial pilot: DHI Mortgage, First State Community Bank, Lennar Mortgage, loanDepot, United Wholesale Mortgage and 1st Signature Lending…