FORM RD 2006-46 (Rev. 01-98)
U.S. DEPARTMENT OF AGRICULTURE MANUAL ISSUE No.
RURAL DEVELOPMENT WSAL PN 421
Washington, D.C 20250 DATE
July 16, 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 and various program rates
effective July 1, 2008;
REMOVE INSERT
Exhibit B: Pages 1 & 2.
Exhibit B
Pages 1 & 2 (Rev 1).
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 July 1, 2008.
REMOVE INSERT
Exhibit B: Page 3 & 4 (Rev 4). Exhibit B:
Page 3 & 4
(Rev 5).
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 reflect the changes made in Chapter 4.
Chapter 3:
Attachment 3-G, to add filing instructions for the Real Estate Settlement
Procedures Act (RESPA) documents, remove reference to Form RD 1922-8 and
generically refer to an appraisal report, and to change the reference for an
appraisal report.
Chapter 4:
Paragraph 4.3 E.3., to clarify how to perform a year-to-date calculation and
when it is appropriate; the example is also updated;
Paragraph 4.7, to limit the need to consider income from assets when determining
annual income to households with total assets with a cash value of more than
$5,000;
Paragraph 4.8, to clarify the requirements for including income from assets when
determining repayment income;
Paragraph 4.10, Exhibits 4-4 and 4-5, to correct that little or nor credit
history on the credit report may be mitigated by third-party verifications;
Paragraph 4.12 C.2., to remove the 2nd paragraph that calls for
redundant action and repeats indicators of unacceptable credit handling found in
Exhibit 4-4; and
Attachments 4-A and 4-B, to limit the need to consider income from assets when
determining annual income to households with total assets with a cash value of
more than $5,000.
Chapter 5:
Paragraph 5.7 A., to clarify that if the loan does not exceed $7,500 and the
repayment schedule does not exceed 15 years, the dwelling’s major systems are
not subject to inspection by State-licensed inspectors.
Chapter 6:
Paragraph 6.7 F., to add back to 5 percent loan-to-value limitation when
dealing with affordable housing products until such time as the 7 CFR 3550 is
revised; and
Attachment 6-A, to remove “Checked Debarment List” as an action that must be
done prior to approving a loan. As outlined in RD Instruction 1940-M, the
signed Form RD 410-4, “Uniform Residential Loan Application”, will be the first
certification for the debarment requirement and a check of the EPLS query screen
prior to loan closing will be the second check.
Chapter 12:
Attachment 12-C, to change the credit score to 640 to match Chapter 4 and to
remove reference to Form RD 1922-8 and generically refer to an appraisal report.
Appendix 1:
These sections of Appendix 1 are being revised to be consistent with the
homeownership education provisions set forth in 7 CFR 3550.
Table of Content and Section 3550.11, to add the “State Director assessment of
homeowner education” and to change the [Reserved] from “3550.11 – 3550.49” to
“3550.12 – 3550.49;”
Section 3550.52(d)(10), is added to allow for reasonable fees to be charged for
homeownership education.
Section 3550.53(i), to add “Homeownership education;”
Appendix 2:
To remove the “Certification of Disposition of Assets.”
REMOVE INSERT
Table of Contents dated 01-23-03: Table of Contents dated 01-23-03:
Pages 5 & 6;
Pages 5 & 6 revised;
Chapter 3 dated 01-23-03: Chapter 3 dated 01-23-03:
Attachment 3-G: Pages 1 thru 4; Attachment 3-G:
Pages 1 thru 4 revised;
Chapter 4 dated 01-23-03: Chapter 4 dated 01-23-03:
Pages 4-23 & 4-24,
Pages 4-23 & 4-24,
4-37 thru 4-40, 4-43 & 4-44 and
4-37 thru 4-40, 4-43 & 4-44 and
4-51 & 4-52,
4-51 & 4-52,
Attachment 4-A: Pages 1 & 2, Attachment 4-A:
Pages 1 & 2,
Attachment 4-B: Pages 3 & 4; Attachment 4-B:
Pages 3 & 4 revised;
Chapter 5 dated 01-23-03: Chapter 5 dated 01-23-03:
Pages 5-13 & 5-14;
Pages 5-13 & 5-14 revised;
Chapter 6 dated 01-23-03: Chapter 6 dated 01-23-03:
Pages 6-13 & 6-14,
Pages 6-13 & 6-14,
Attachment 6-A: Pages 1 & 2; Attachment 6-A:
Pages 1 & 2;
Chapter 12 dated 01-23-03: Chapter 12 dated 01-23-03:
Attachment 12-C: Pages 1 thru 4; Attachment
12-C:
Pages 1 thru 4;
Appendix 1 dated 01-23-03: Appendix 1 dated 01-23-03:
Pages 1 thru 10 and
Pages 1 thru 10
and
21 thru 90; and
21 thru
91 revised; and
Appendix 2 dated 01-23-03: Appendix 2 dated 01-23-03:
Pages 3 & 4.
Pages 3 & 4 revised 07-16-08.
FORM
REPLACEMENT
RD 1944-14
(WSAL)
PAYMENT ASSISTANCE/DEFERRED MORTGAGE ASSISTANCE AGREEMENT revised 05-08.
Prescribed in RD Handbooks 3550. The Form and FMI are revised to require
completion of block 28a in all cases. 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 04-01-08.
FMI revised 07-16-08.
RD 3560-11
(WSAL)
MULTI-FAMILY HOUSING PHYSICAL INSPECTION revised 05-08. Prescribed in RD
Handbook HB-2-3560. The Form and FMI are revised as follows:
To delete summary page; provide additional directions and definitions for
acceptable, finding and violation;
To remove category descriptions;
To add site accessibility;
To add columns “estimated completion date (ECD)” and “not applicable (N/A)” and
to add section for comments and observations;
To add vacancy status information and remove category descriptions; and
To include category description to provide additional clarification and to
revise criteria for the annual and triennial physical inspection to the FMI.
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 02-24-05.
FMI revised 07-16-08.
NO SPECIAL
PROCEDURE NOTICES RELEASED:
ADMINISTRATIVE NOTICES
CHECKLIST:
(See AN Checklist.)
oOo