Description of System:
Privacy Impact Assessment for Guaranteed
Guaranteed is one of Rural Development’s official accounting and financial management systems. Guaranteed consist of two subsystems Lender Interactive Network Connection (LINC) and Guaranteed Loan System
(GLS). GLS is divided into six modules which consist of Guaranteed Underwriting System (GUS), Farm Service Agency (FSAG), Multi Family (MFGH), Single Family Housing (SFH Loss), Guaranteed Loan (GuarLoan) and Guaranteed Core.
Guaranteed is one of Rural Development’s official accounting and financial management systems and supports Guaranteed and Direct Business & Industry program, Guaranteed and Direct Community Facility program, Guaranteed Rural Rental Housing program, Guaranteed Single Family Housing program - including Guaranteed Single Family Housing Losses (SFH Loss), Guaranteed Water & Waste program in Rural Development, and also supports Guaranteed Farm Loan Program (Guar Loan) in the Farm Service Agency (FSA) and Guaranteed Underwriting System (GUS). Guaranteed is an online transaction entry and inquiry financial and accounting system accessed by over 700 field offices, the National Office, and Finance Office. Updates are done both on-line real-time and through nightly batch processes. The field offices are the primary user of Guaranteed and the Finance Office has overall operational, financial, and accounting responsibility for Rural Development. Our external trusted partners (Lenders) provide loan status data via file uploads from a Lender Interactive Network Connection (LINC) to the mainframe during the monthly reporting periods. These files are verified for data exceptions and updated during monthly and quarterly scheduled processing timeframes. Guaranteed also has an external connection with lenders via Application Authorization Security Management (AASM). Thi~ security program resides on the Web Farm and authenticates lenders into Guaranteed via electronic authentication (eAuth). This externa! connection allows lenders access to the Guaranteed Loan System to process Lender Status Reports, Loan Closings, and access to the Guaranteed Underwriting System (GUS) and the Guaranteed Single Family Housing Losses (SFHLosses) applications. ~&S~.~ assigns more atdngedt cont~01s over externai users than eAuth alone. Within AASM certain lenders (Branch Representatives) can in turn assign members within their branch access to Guaranteed. Guaranteed functions include: online inquiry and transaction input; pre-application and application processing, loan making and loan servicing transaction updates, ~ortfolio management, lender management, daily register, balancing, and program reporting; and fiscal and financial reporting.
Guaranteed Underwriting System (GUS)
Guaranteed Underwriting System (GUS) is a Java J2EE application that ~rovides a streamlined and automated application process, automated credit decision-making, and automated the eligibility determination for the
SFH guaranteed rural housing loan program. The system utilizes credit agency interfaces in conjunction with a third party underwriting engine to automate the credit decision process. It includes loan origination, income &
property eligibility determination, underwriting (including risk determination and automated underwriting decisions), Fannie Mae credit reporting, HUD Total Scorecard, and includes recommendations for loan approval. GUS interfaces with Eligibility, MindBox, GLS, HUD, and Fannie Mae. It also arovides a web user interface used to capture borrower loan application
data for single family home loans guaranteed by the USDA. The system utilizes credit agency interfaces in conjunction with a third party underwriting engine to automate the credit decision process, The system is
Date: July 16, 2009