FORM RD 2006-46 (Rev. 01-98)

U.S. DEPARTMENT OF AGRICULTURE                            MANUAL    ISSUE No.

RURAL DEVELOPMENT                                           WSAL        PN 424

Washington, D.C  20250                                     DATE

                                                              October 15, 2008

PROCEDURE NOTICE

RD MANUAL CHANGES

INSERT RD 440.1
(WSAL)

INTEREST RATES, AMORTIZATION, GUARANTEE FEE, ANNUAL CHARGE, AND FIXED PERIOD. 

Exhibit B is partially revised to update the Treasury Judgement Rate effective October 1, 2008;

REMOVE                                INSERT
Exhibit B:  Pages 1 & 2 (Rev 3).      Exhibit B:  Pages 1 & 2 (Rev 4).
 

RD HANDBOOK CHANGES

INSERT RD HB-1-3550
(WSAL)

DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS FIELD OFFICE HANDBOOK.  This Handbook is partially revised.  Specific revisions include:

Table of Contents:

To add Attachment 8-B “Unliquidated Obligation Review.”

Chapter 8:

The unliquidated obligations are to be reviewed (Attachment 8-B) on a quarterly basis to determine if a loan or grant funds should be deobligated.  In addition, a review guide is provided for completion of the reviews.

REMOVE                                INSERT
Table of Content dated 01-23-03:      Table of Content dated 01-23-03:
  Pages 13 & 14; and                    Pages 13 & 14 revised; and
                                      Chapter 8 dated 01-23-03:
                                        Attachment 8-B added 10-15-08.

INSERT RD HB-2-3550
(WSAL)

 DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS CENTRALIZED SERVICING CENTER HANDBOOK.  This Handbook is partially revised. 

Chapter 7 and the Table of Contents are included with this PN since it was inadvertently omitted from Procedure Notice 423 dated 09-09-08.  Specific revisions include:


Table of Contents:

The Table of Contents is partially revised due to text modification which requires renumbering of pages.

Chapter 3:

Attachment 3-B, to include the current tax service fees charged for new loans approved.

Chapter 7:

To include information regarding the Servicemembers Civil Relief Act of 2003 (SCRA) as it relates to active duty borrowers accounts’ serviced by CSC; and

Paragraph 7.7, to delete verbiage found under “administrative offset” that state payments made to a borrower under the Social Security Act cannot be offset.”

REMOVE                                INSERT
Table of Contents dated 05-27-98:     Table of Contents dated 05-27-98:
  Pages 11 & 12;                        Pages 11 & 12 revised;
Chapter 3 dated 05-27-98:             Chapter 3 dated 05-27-98:
  Attachment 3-B;                       Attachment 3-B revised;
Chapter 7 dated 05-27-98:             Chapter 7 dated 05-27-98:
  Pages 7-7 thru 7-12.                  Pages 7-7 thru 7-12 revised 10-15-08.

INSERT RD HB-2-3560
(WSAL)

MFH ASSET MANAGEMENT HANDBOOK.  This Handbook is partially revised.  Specific revisions include:

Table of Contents:

The Table of Contents is partially revised due to text modification which requires renumbering of pages.

Chapter 3:

Paragraph 3.4 B., to clarify when a new Management Certification, Form RD 3560-13 is needed;

Paragraph 3.8 B., to add revenue producing;

Paragraph 3.8 B.2., to add additional language to clarify add-on units, to replace “2006” with “2009,” to delete paragraph concerning annual review of the median fee by the regions, and to remove paragraph 3 C and renumber remaining paragraph accordingly;

To replace Attachment 3-G with Attachment 3-F; and

Attachment 3-F is revised for the 2009 increase, the FY 09 Management Base Fees were established by increasing the FY 0 fee by $1.50 per unit per month.  These fees will be used for the FY 09 budget cycle being January 1, 2009.

REMOVE                                INSERT
Table of Contents dated 02-24-05:     Table of Contents dated 02-24-05:
  Pages 3 thru 6;                       Pages 3 thru 6 revised;
Chapter 3 dated 02-24-05:             Chapter 3 dated 02-24-05:
  Pages 3-5 & 3-6,                      Pages 3-5 & 3-6,
  3-15 thru 3-18,                       3-15 thru 3-18,
  Attachments 3-F & 3-G.                Attachment 3-F revised 10-15-08.

NO SPECIAL PROCEDURE NOTICES RELEASED:
 

  SPECIAL PROCEDURE NOTICE dated 09-09-08.  DISTRIBUTION:  WSAL.
  (Re:  RD Instruction 1944-N).

ADMINISTRATIVE NOTICES CHECKLIST:
     (See AN Checklist.)

oOo