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

U.S. DEPARTMENT OF AGRICULTURE                                                  MANUAL    ISSUE No.

RURAL DEVELOPMENT                                                                 WSAL       PN 452

Washington, D.C  20250                                                           DATE

                                                                                    October 26, 2011

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 October 1, 2011; and

Exhibit K is revised to amend the upfront fee requirement and implement an annual fee requirement for Section 502 Guaranteed Loans.  Effective October 1, 2011 the up-front guarantee fee for purchase transaction is 2 percent for a factor of .0222222, and the annual-fee for both purchase and refinance loan transaction is 0.3 percent of the scheduled average unpaid principal balance of the loan.

REMOVE                                INSERT
Exhibit B:  Pages 1 & 2 (Rev 37)      Exhibit B:  Pages 1 & 2 (Rev 38)
and Exhibit K.                        and Exhibit K revised 10-26-11.
 

INSERT RD INS 1940-L
(WS)

METHODOLOGY AND FORMULAS FOR ALLOCATIONS OF LOAN AND GRANT PROGRAM FUNDS.  Exhibit A, Attachment 1 is revised to reflect the funding for Fiscal Year 2011; and

Exhibit A, Attachment 2 is reviewed to include the allocation of funds for Fiscal Year 2011 for the Community Facilities, Multi-Family Housing and Single Family Housing Programs.

REMOVE                                INSERT
Exhibit A:  Attachment 1; and         Exhibit A:  Attachment 1 revised; and
Exhibit A:  Attachment 2.             Exhibit A:  Attachment 2 revised 10-26-11.

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 October 1, 2011.                                      

REMOVE                                INSERT
Exhibit B:  Pages 3 & 4 (Rev 16).     Exhibit B:  Pages 3 & 4 (Rev 17).

INSERT RD INS 4279-B
(WSAL) 

BUSINESS AND INDUSTRY GUARANTEED LOAN PROGRAM.  This Instruction is partially revised as follows:

Section 4279.108(c)(3) and (4) have been added to clarify what evidence is necessary to prove an individual resides in the U.S. after being legally admitted for permanent residence;

Section 4279.144, to add administrative language regarding the submission of the lender’s technical review of appraisals; and

Appendix A, to correct market and management feasibility sections.
                                     

REMOVE                                INSERT
Pages 4A added;                       Pages 4A (Rev 1),
17 & 18 (Rev 2); and                  17 & 18 (Rev 3); and
Appendix A:  Pages 1 thru 3.          Appendix A revised 10-26-11.

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:

Chapter 7:

Attachment 7-B, to extend the tax service fee timetable for 2011.

Appendix 6:

In the following Handbooks, Appendix 6 is partially revised to include the
August 1, 2010 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.

REMOVE                                INSERT
Chapter 7 dated 01-23-03:             Chapter 7 dated 01-23-03:
  Attachment 7-B:  Pages 1 & 2; and     Attachment 7-B:  Pages 1 & 2 revised; and
Appendix 6:  Pages 3 & 4.             Appendix 6:  Pages 3 & 4 revised 10-26-11.

NO SPECIAL PROCEDURE NOTICES RELEASED:
 

ADMINISTRATIVE NOTICES RELEASED:

  (See AN Checklist.)

oOo