USDA announces Rural Housing Modernization Initiative delegating underwriting authority

The USDA Rural Development announced the Rural Housing Modernization Initiative in March 2026, delegating loan underwriting and approval authority to qualified private lenders in the Section 502 Guaranteed Loan Program. Approved lenders can approve and close loans without USDA pre-approval, reducing burdens and accelerating processing. (USDA, Mar. 15, 2026)