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

U.S. DEPARTMENT OF AGRICULTURE                                                  MANUAL    ISSUE No.

RURAL DEVELOPMENT                                                                 WSAL       PN 457

Washington, D.C  20250                                                           DATE

                                                                                    May 30, 2012

PROCEDURE NOTICE

RD MANUAL CHANGES

INSERT RD INS 440.1
(WSAL)

INTEREST RATES, AMORTIZATION, GUARANTEE FEE, ANNUAL CHARGE, AND FIXED PERIOD.  Exhibit B is partially revised to update the Treasury Judgment rate and various program rates, effective May 1, 2012.

REMOVE                                INSERT
Exhibit B:  Pages 1 & 2 (Rev 44).     Exhibit B:  Pages 1 & 2 (Rev 45).

 

INSERT RD INS 4284-J
(WSAL)

VALUE-ADDED PRODUCER GRANT PROGRAM.  This subpart implements the value-added agricultural product market development grant program (“VAPG” Value-Added Producer Grants) administered by the Rural Business-Cooperative Service whereby grants are made to enable viable agricultural producers (those who are prepared to progress to the next business level of planning for, or engaging in, value-added production) to develop businesses that produce and market value-added agricultural products.  The provisions of this subpart constitute the entire provisions applicable to this Program; the provisions of subpart A of this part do not apply to this subpart.

REMOVE                                INSERT.
Table of Contents;                    Table of Contents revised;
All Pages.                            Pages 1 thru 52 revised 05-30-12.

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:

Appendix 1:

Appendix 1 is partially revised to clarify requirements for triggering or calculating recapture of subsidy as spelled out in the Subsidy Recapture Final Rule.

Paragraph 3550.162(a) through (d) language was added and paragraph 3550.202(b)(3) was added.

REMOVE                                INSERT
Appendix 1 dated 01-23-03:            Appendix 1 dated 01-23-03:
  Pages 7 thru 10, and                  Pages 7 thru 10, and
  73 thru 94.                           73 thru 94 revised 05-30-12.

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:

Chapter 2:

Paragraph 2.23, to restore a provision that the full amount of subsidy still be recaptured from the proceeds of the sale of the property in the case of foreclosure or deed in lieu of foreclosure.  In addition, the language describing the recapture has been expanded to make it easier to understand;

Paragraph 2.24, to clarify the determination of market value in connection with a final loan payoff including what information is needed for the borrower to receive credit for capital improvements;

Paragraph 2.25 and 2.27, to revised for better clarity; and

Attachment 2-A, to correspond with the above clarifications.

REMOVE                                INSERT
Chapter 2 dated 05-27-98:             Chapter 2 dated 05-27-98:
  Pages 2-29 & 2-42;                    Pages 2-29 & 2-42;
  Attachment 2-A.                       Attachment 2-A revised 05-30-12.

FORM

  REPLACEMENT

 RD 3550-12 
(WSAL)

SUBSIDY REPAYMENT AGREEMENT revised 05-12.  Prescribed in RD HB-1-3550 and HB-2-3550.  The Form and FMI are revised to more clearly explain when recapture is due and how it is calculated.  Many of the terms used on the agreement are further defined and clarified.  The Form is also revised to state that the unpaid balance of loans being liquidated by deed-in-lieu of foreclosure (voluntary conveyance) to the government or foreclosure shall include the total amount of subsidy that has been granted on the loan.  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 09-27-06.                     FMI revised 05-30-12.

NO SPECIAL PROCEDURE NOTICES RELEASED:
 

ADMINISTRATIVE NOTICES RELEASED:

  (See AN Checklist.)

oOo