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

U.S. DEPARTMENT OF AGRICULTURE                            MANUAL    ISSUE No.

RURAL DEVELOPMENT                                           WSAL       PN 427

Washington, D.C  20250                                     DATE

                                                              February 27, 2009

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 February 1, 2009.

REMOVE                                INSERT
Exhibit B:  Pages 1 & 2 (Rev 7).      Exhibit B:  Pages 1 & 2 (Rev 8).
 

INSERT RD INS 1980-D
(WSAL)

RURAL HOUSING LOANS.  Section 1980.309(b)(1)(v) is revised to provide further guidance on the collection and review of lender/servicer quality control plans during the lender approval process.

REMOVE                                INSERT
Pages 9 & 10 (Rev 5).                 Pages 9 & 10 (Rev 1) and
                                      10A added 02-27-09.

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:

In the following Handbooks, Appendix 6 is partially revised to include the
February 1, 2009, interest rate for the Above-Moderate Single Family Housing non-program loans..

* Number      Title
HB-1-3550     DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS FIELD OFFICE
              HANDBOOK.

HB-2-3550     DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS CENTRALIZED
              SERVICING CENTER HANDBOOK.

 
Chapter 6:

Paragraph 6.10 A., to increase the nonretirement assets limit for non-elderly applicants from $7,500 to $15,000 and for elderly applicants from $10,000 to $20,000.  Nonretirement assets limits already revised in Chapter 4.

REMOVE                                INSERT
Chapter 6 dated 01-23-03:             Chapter 6 dated 01-23-03:
  Pages 6-15 & 6-16; and                Pages 6-15 & 6-16 revised; and
Appendix 6 dated 01-23-03:            Appendix 6 dated 01-23-03:
  Pages 3 & 4.                          Pages 3 & 4 revised 02-27-09.

INSERT RD HB-2-3560
(WSAL)

MFH ASSET MANAGEMENT HANDBOOK.  This Handbook is partially revised as follows:

Table of Contents:

To reflect the changes in Chapter 6 and to add Attachment 6-I and 6-J.

Chapter 6:

Paragraph 6.11 B, to add a reference to Attachment 6-I.  Also to add #5, “Tenant File documentation” which includes reference to Attachment 6-J; and

Paragraph 6.40 C., to correct paragraph reference from “Paragraph 6.38” to “Paragraph 6.40.”

REMOVE                                INSERT
Table of Contents dated 02-24-05:     Table of Contents dated 02-24-05:
  Pages 9 thru 12;                      Pages 9 thru 12 revised;
Chapter 6 dated 02-24-05:             Chapter 6 dated 02-24-05:
  Pages 6-15 thru 6-20 and              Pages 6-15 thru 6-20 and
  6-53 & 6-54.                          6-53 & 6-54; and
                                        Attachments 6-I and 6-J added 02-27-09.

NO SPECIAL PROCEDURE NOTICES RELEASED.

ADMINISTRATIVE NOTICES RELEASED:

  (See AN Checklist.)

oOo