FORM RD 2006-46 (Rev. 01-98)
U.S. DEPARTMENT OF AGRICULTURE MANUAL ISSUE No.
RURAL DEVELOPMENT WSAL SPECIAL
Washington, D.C 20250 DATE
April 1, 2008
PROCEDURE NOTICE
RD MANUAL CHANGES
INSERT RD 440.1
(WSAL)
INTEREST RATES, AMORTIZATION, GUARANTEE FEE, ANNUAL CHARGE, AND FIXED PERIOD.
Exhibit B, to update the Treasury
Judgement Rate and various program rates effective April 1, 2008.
REMOVE INSERT
Exhibit B: Pages 1 & 2 (Rev 42). Exhibit B:
Pages 1 & 2
(Rev 43).
INSERT RD INS 1940-L
(WSAL)
Methodology and Formulas for
Allocation of Loan and Grant Program Funds. Exhibit A, Attachment 2 is
completely revised to include the allocation of funds for Fiscal Year 2008 for
the Community Facilities, Multi-Family Housing, and Single Family Housing
Programs.
REMOVE INSERT
Exhibit A, Attachment 2.
Exhibit A,
Attachment 2 revised 04-01-08.
INSERT RD INS 1951-O
(WSAL)
SERVICING CASES WHERE UNAUTHORIZED LOAN(S) OR OTHER FINANCIAL ASSISTANCE WAS
RECEIVED
- COMMUNITY AND INSURED BUSINESS PROGRAMS. Exhibit B is partially revised to
update program interest rates, effective
April 1, 2008.
REMOVE INSERT
Exhibit B: Pages 3 & 4 (Rev 3). Exhibit B:
Pages 3 & 4
(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 the new Payment Assistance Methods.
Chapter 6:
Paragraph 6.16 B.1, to remove the reference to leverage loan; and
Exhibit 6.2, to add the new “Sample Payment Assistance Method 2 Calculation” and
renumber remaining Exhibits accordingly.
Chapter 8:
Paragraph 8.8 B., to replace the Equivalent Interest Rate (EIR) with the
subsidized rate.
Chapter 10:
Paragraph 10.1, to reference affordable housing loans and to explain that loans
with a term of 30 years and a note interest of 3 percent or less are considered
affordable housing loans;
Paragraph 10.1 A., to clarify that affordable housing loans will receive
processing priority;
Paragraph 10.2 B., to change the terminology from “Amortizing low interest
Loans” to “Affordable Housing Loans”;
Paragraph 10.3 C., to explain the payment assistance calculation for an
affordable housing loan;
Paragraph 10.9 E., to explain how payment assistance will be computed for
affordable housing loans;
Attachment 10-A, to provide a sample calculation of Agency funds leveraged with
and Affordable Housing Product; and
Attachment 10-B
is renumbered to be Attachment 10-A.
Glossary:
Clarified that the Equivalent interest rate (EIR) and Floor payment applies to
payment assistance method 1.
Appendix 1:
To revised
the definition for “leveraged loan” and "payment assistance" and to add the new
Payment Assistance Methods.”
The effective date for
this change is April 1, 2008.
REMOVE INSERT
Table of Contents dated 01-23-03: Table of Contents dated 01-23-03:
Pages 9 thru 11 and 15 & 16;
Pages 9 thru 11 and 15 & 16 revised;
Chapter 6 dated 01-23-03: Chapter 6 dated 01-23-03:
Pages 6-19 thru 6-29;
Pages 6-19 thru 6-31 revised;
Chapter 8 dated 01-23-03: Chapter 8 dated 01-23-03:
Pages 8-13 & 8-14;
Pages 8-13 & 8-14 revised;
Chapter 10 dated 01-23-03: Chapter 10 dated 01-23-03:
Pages 10-1 thru 10-4 and
Pages
10-1 thru 10-4 and
10-11 thru 10-14,
10-11 thru 10-14,
Attachment 10-A & 10-B;
Attachment 10-A revised;
Glossary dated 01-23-03: Glossary dated 01-23-03:
Pages 3 thru 6 and
Pages 3 thru 6 and
9 thru 12.
9 thru 12 revised; and
Appendix 1
dated 01-23-03: Appendix 1
dated 01-23-03:
Pages 17 thru 20 and
Pages 17 thru
20 and
39 thru 42.
39 thru
42 revised 04-01-08.
INSERT
RD HB-2-3550
(WSAL)
DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS CENTRALIZED SERVICING CENTER
HANDBOOK. This Handbook is partially revised. Specific revisions include:
Table of Content:
To add the new Payment Assistance Methods.
Chapter 4:
Paragraph 4.2, to explain that there are now three types of payment subsidies:
Interest Credit, Payment Assistance Method 1 and Payment Assistance
Method 2;
Paragraph 4.3, to insert the instruction for calculating the borrower’s payment
using Payment Assistance Method 2; and
Exhibit 4-3, to add the “Sample Payment Assistance Method 2 Calculation” and
renumber remaining Exhibits accordingly.
Glossary:
To make minor changes to “Floor payment.”
REMOVE INSERT
Table of Contents dated 05-27-98: Table of Contents dated 05-27-98:
Pages 7 thru 13;
Pages 7 thru 13 revised;
Chapter 4 dated 05-27-98: Chapter 4 dated 05-27-98:
Pages 4-1 thru 4-48; and
Pages
4-1 thru 4-50 revised; and
Glossary dated 05-27-98: Glossary dated 05-27-98:
Pages 3 & 4.
Pages 3 & 4 revised 04-01-08.
INSERT RD HB-1-3565
(WSAL)
GUARANTEED RURAL RENTAL HOUSING PROGRAM. This Handbook is partially as follow:
The effective date for this change is April 4, 2008.
Appendix 1:
To change the due date of the Annual Guarantee Fee.
REMOVE
INSERT
Appendix 1 dated 07-16-99: Appendix 1 dated 07-16-99:
Pages 15 & 16.
Pages 15 & 16 revised 04-01-08.
FORM
REPLACEMENT
FORM RD 1944-14
(WSAL)
PAYMENT ASSISTANCE/DEFERRED MORTGAGE ASSISTANCE AGREEMENT revised 04-08.
Prescribed in RD Handbooks 3550. The Form and FMI are revised to incorporate an
additional payment assistance calculation. There are now two methods of payment
assistance. They are payment assistance method 1 and payment assistance method
2. The FMI provides instructions for calculating bother methods of payment
assistance. Supplies dated prior to the revision date will be disposed of or
recycled. This Form and FMI are available on the Rural Development Instructions
home page (http://www.rurdev.usda.gov/regs/). No paper copy distribution of
this form will be made, and it will not be stocked in the warehouse.
REMOVE INSERT
FMI dated 12-23-96.
FMI revised 04-01-08.
oOo