Establishes an expedited loan guarantee approval pilot program at USDA for bridge loans.
The Expedited Guaranteed Lender Pilot Program Act establishes a pilot program at the USDA to streamline the qualification and approval process for bridge loans guaranteed by the Secretary. The program targets creditworthy borrowers serviced by Preferred Certified Lenders. The Secretary must submit annual reports on the pilot program's actions and results to the relevant committees. The authority provided by this section terminates on September 30, 2031.
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