Notice of Availability of Funds; Multi-Family Housing, Single Family Housing, 16624-16639 [E8-6332]

Agencies

• DEPARTMENT OF AGRICULTURE
• Rural Housing Service

[Federal Register Volume 73, Number 61 (Friday, March 28, 2008)]
[Notices]
[Pages 16624-16639]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6332]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Availability of Funds; Multi-Family Housing, Single 
Family Housing

AGENCY: Rural Housing Service, USDA.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Rural Housing Service, hereinafter referred to as Housing 
and Community Facilities Programs (HCFP), announces the availability of 
housing funds for fiscal year (FY) 2008. This action is taken to comply 
with 42 U.S.C. 1490p, which requires that HCFP publish in the Federal 
Register notice of the availability of any housing assistance.

DATES: Unless otherwise indicated below, applications are accepted 
year-round at a local Rural Development office.
    Effective Date: March 28, 2008.

FOR FURTHER INFORMATION CONTACT: For information and application 
assistance contact the appropriate state office from the attached state 
office listing, or visit our Internet Web site at https://www.offices.usda.gov and select your State. Applicants can also obtain 
local contact information in a local telephone directory's blue pages 
under ``Rural Development.''
    For information regarding this notice contact Myron Wooden, Loan 
Specialist, Single Family Housing Direct Loan Division, telephone 202-
720-4780, for single family housing (SFH) issues and Tammy S. Daniels, 
Senior Loan Specialist, Multi-Family Housing (MFH) Processing Division, 
telephone 202-720-0021, for multi-family housing issues, U.S. 
Department of Agriculture, 1400 Independence Ave., SW., Washington, DC 
20250. (The telephone numbers listed are not toll free numbers).

SUPPLEMENTARY INFORMATION: The information in this Notice describes how 
funds for the various Rural Development HCFP programs are distributed.

Programs Affected

    The following programs are subject to the provisions of Executive 
Order 12372 that requires intergovernmental consultation with State and 
local officials. These programs or activities are listed in the Catalog 
of Federal Domestic Assistance under Nos. 10.405 Farm Labor Housing 
(LH) Loans and Grants.

10.410 Very Low to Moderate Income Housing Loans.
10.411 Rural Housing Site Loans and Self-Help Housing Land Development 
Loans.
10.415 Rural Rental Housing Loans.
10.417 Very Low Income Housing Repair Loans and Grants.
10.420 Rural Self-Help Housing Technical Assistance.
10.427 Rural Rental Assistance Payments.
10.433 Rural Housing Preservation Grants.
10.442 Housing Application Packaging Grants.

    Part 1940, subpart L of 7 CFR contains the ``Methodology and 
Formulas for Allocation of Loan and Grant Program Funds.'' To apply for 
assistance under these programs or for more information, contact the 
USDA Rural Development Office for your area.

Multi-Family Housing (MFH)

I. General

    A. This Notice provides guidance on MFH funding for the Rural 
Rental Housing program (RRH) for FY 2008. Allocation computations have 
been performed in accordance with 7 CFR 1940.575 and 1940.578. For FY 
2008, State Directors, under the Rural Housing Assistance Grants 
(RHAG), will have the flexibility to transfer their initial allocations 
of budget authority between the Single Family Housing (SFH) Section 504 
Rural Housing Grants and section 533 Housing Preservation Grant (HPG) 
programs.
    B. MFH loan and grant levels for FY 2008 are as follows:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
MFH Loan Programs Credit Sales..........................      $1,475,864
Section 514 Farm Labor Housing (LH) loans*..............      27,545,076
Section 515 Rural Rental Housing (RRH) loans............      69,510,000
Section 521 Rental Assistance (RA) and 502(c)(5)(C)          472,757,370
 Advance................................................
Section 516 LH grants...................................       9,930,000
Sections 525 Technical and Supervisory Assistance (TSA)                0
 and Section 509 Housing Application Packaging Grants
 (HAPG) (Shared between single and multi-family
 housing)*..............................................
Section 533 Housing Preservation grants (HPG)**.........       9,593,704
Section 538 Guaranteed Rural Rental Housing Program.....     129,090,000
Preservation Revolving Loan Fund Demonstration Program*.       6,421,642
Sections 514, 515 and 516 Multi-Family Housing                19,860,000
 Revitalization Demonstration Program (MPR)***..........
Rural Housing Voucher Demonstration Program*............      4,965,000
------------------------------------------------------------------------
* Does Not Include Carryover Funds.
** Includes Carryover Funds.
*** Stated at the budget authority level, rather than at the program
  level.

II. Funds Not Allocated to States

    A. Credit Sales Authority. For FY 2008, $1,475,864 will be made 
available for credit sales to program and nonprogram buyers. Credit 
sale funding will not be allocated by State.
    B. Section 538 Guaranteed Rural Rental Housing Program. Guaranteed 
loan funds have been made available

[[Page 16625]]

under a Notice of Funding Availability (NOFA) published in the Federal 
Register on February 4, 2008. Additional guidance is provided in the 
NOFA.
    C. Sections 514, 515 and 516 Multi-Family Housing and 
Revitalization Demonstration Program (MPR) for Fiscal Year 2008. The 
MPR program is designed to preserve and revitalize Section 515 multi-
family rental housing properties and sections 514/516 Off-farm labor 
housing properties. The program is designed to utilize several 
demonstration revitalization tools to restructure debt and financing of 
an aging portfolio of rental properties. The goal of the MPR program is 
to ensure that properties have sufficient resources to continue 
providing safe and affordable housing for low-income rural residents.
    D. USDA Rural Development Voucher Demonstration Program. The USDA 
Rural Development Voucher program, authorized under section 542 of the 
Housing Act of 1949, is designed to provide tenant protections in 
properties that prepay their mortgages after October 1, 2005. These 
vouchers are portable and will enable tenants to continue to access 
affordable housing without benefit of the traditional rental assistance 
program.

III. Farm Labor Housing (LH) Loans and Grants.

    The Administrator has the authority to transfer the allocation of 
budget authority between the two programs. Upon the closing date of the 
NOFA, the Administrator will evaluate the responses and determine 
proper distribution of funds between loans and grants.
A. Section 514 Farm LH Loans
    1. These loans are funded in accordance with 7 CFR 1940.579(a).

------------------------------------------------------------------------
 
------------------------------------------------------------------------
FY 2008 Appropriation...................................     $27,545,076
Available for Off-Farm Loans............................      19,158,807
Available for On-Farm Loans.............................       2,000,000
National Office Reserve.................................       6,386,269
------------------------------------------------------------------------

    2. Off-Farm loan funds have been made available under a NOFA 
published in the Federal Register on March 12, 2008. Additional 
guidance is provided in the NOFA.
B. Section 516 Farm LH Grants
    1. Grants are funded in accordance with 7 CFR 1940.579(b). 
Unobligated prior year balances and cancellations will be added to the 
amount shown.

------------------------------------------------------------------------
 
------------------------------------------------------------------------
FY 2008 Appropriation...................................      $9,930,000
Available for LH Grants for Off-Farm....................       7,447,500
National Office Reserve.................................       2,482,500
------------------------------------------------------------------------

    2. Labor Housing grant funds for Off-Farm have been made available 
under a NOFA published in the Federal Register on March 12, 2008. 
Additional guidance is provided in the NOFA.
    C. Labor Housing Rental Assistance (RA). It is anticipated that 
Labor Housing RA will not be available for Fiscal Year 2008.

IV. Section 515 RRH Loan Funds

------------------------------------------------------------------------
 
------------------------------------------------------------------------
FY 2008 Section 515 Rural Rental Housing allocation          $69,510,000
 (Total)................................................
  New Construction funds and set-asides.................      14,529,124
    Non-Restricted......................................       2,341,200
    Set-aside for nonprofits............................       6,255,900
    Set-aside for underserved counties and colonias.....       3,475,500
    Set-aside for EZ, EC, or REAP Zones.................       1,456,524
    State RA designated reserve.........................       1,000,000
  Rehab and repair funds and equity.....................      40,036,226
    Rehab and repair loans..............................      35,036,226
    Designated equity loan reserve......................       5,000,000
  General Reserve.......................................      14,944,650
------------------------------------------------------------------------

    A. New Construction Loan Funds. New construction loan funds have 
been made available using a national NOFA published in the Federal 
Register on March 12, 2008. Additional guidance is provided in the 
NOFA.
    B. National Office New Construction Set-asides. The following 
legislatively mandated set-asides of funds are part of the National 
office set-aside:
    1. Nonprofit Set-aside. An amount of $6,255,900 has been set-aside 
for nonprofit applicants. All nonprofit loan proposals must be located 
in designated places as defined in 7 CFR 3560.
    2. Underserved Counties and Colonias Set-aside. An amount of 
$3,475,500 has been set aside for loan requests to develop units in the 
underserved 100 most needy counties or colonias as defined in section 
509(f) of the Housing Act of 1949 as amended. Priority will be given to 
proposals to develop units in colonias or tribal lands.
    3. EZ, EC or REAP Zone Set-aside. An amount of $1,456,524 has been 
set-aside for loan requests to develop units in EZ or EC communities or 
REAP Zones until June 30, 2008.
    C. Designated Reserves for State RA. An amount of $1,000,000 of 
Section 515 loan funds has been set-aside for matching with projects in 
which an active State sponsored RA program is available. The State RA 
program must be comparable to the HCFP RA program.
    D. Repair and Rehabilitation Loans. All funds will be held in the 
National Office and will be distributed based upon rehabilitation needs 
to projects selected and processed under the FY 2008 MPR NOFA.
    E. Designated Reserve for Equity Loans. An amount of $5,000,000 has 
been designated for the equity loan preservation incentive described in 
7 CFR 3560. The $5 million will be further divided into $4 million for 
equity loan requests currently on the pending funding list and $1 
million to facilitate the transfer of properties from for-profit owners 
to nonprofit corporations and public bodies. Funds for such transfers 
would be authorized only for for-profit owners who are currently on the 
pending funding list who agree to transfer to nonprofit corporations or 
public bodies rather than to remain on the pending list. If 
insufficient transfer requests are generated to utilize the full $1 
million set-aside for nonprofit and public body transfers, the balance 
will revert to the existing pending equity loan funding list.
    F. General Reserve. There is one general reserve fund of 
$14,944,650. Some examples of immediate allowable uses include, but are 
not limited to, hardships and emergencies, HCFP cooperatives or group 
homes, or RRH preservation.

V. Section 533 HPG

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available (Includes carryover funds).............    $9,593,704.00
Less General Reserve...................................       957,570.40
Less Set-aside for EZ, EC or REAP Zones................       595,800.00
Total Available for Distribution.......................     8,040,333.60
------------------------------------------------------------------------


[[Page 16626]]

    See the end of this Notice for HPG state allocations. Fund 
availability has been announced in a NOFA that was published in the 
Federal Register on February 20, 2008.
    The amount of $595,800 is set-aside for EZ, EC or REAP Zones until 
June 30, 2008.

 Single Family Housing (SFH)

    I. General. All SFH programs are administered through field 
offices. For more information or to make application, please contact 
the Rural Development office servicing your area. To locate these 
offices, contact the appropriate state office from the attached state 
office listing, visit our Web site at: https://www.offices.usda.gov, or 
search the blue pages in your local telephone directory under ``Rural 
Development'' for the office serving your area.
    A. This Notice provides SFH allocations for FY 2008. Allocation 
computations have been made in accordance with 7 CFR 1940.563 through 
1940.568. Information on basic formula criteria, data source and 
weight, administrative allocation, pooling of funds, and availability 
of the allocation are located on a chart at the end of this notice.
    B. The SFH levels authorized for FY 2008 are as follows:

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Section 502 Guaranteed Rural Housing (RH) loans:
    Nonsubsidized Guarantees--Purchase...............     $4,958,563,379
    Nonsubsidized Guarantees--Refinance..............        269,375,804
Section 502 Direct RH Loans*.........................      1,121,485,933
Credit sales (Nonprogram)............................         10,000,000
Section 504 Housing Repair Loans*....................         34,409,013
Section 504 Housing Repair Grants*/**................         29,790,000
Section 509 Compensation for Construction Defects**..                  0
Section 523 Mutual and Self-help Housing Grants and           38,727,000
 Contracts*/**.......................................
Section 523 Self-Help Site Loans.....................          4,965,000
Section 524 RH site Loans............................          5,045,000
Section 306C Water and Waste Disposal (WWD) Grants**.          1,000,000
                                                      ------------------
        Total available..............................      6,473,961,129
------------------------------------------------------------------------
* Includes funds for EZ/EC and REAP communities until June 30, 2008.
** Carryover funds are not included in the balance.

    C. SFH Funding Not Allocated to States. The following funding is 
not allocated to states by formula. Funds are made available to each 
state on a case-by-case basis.
    1. Credit sale authority. Credit sale funds in the amount of 
$10,000,000 are available only for nonprogram sales of Real Estate 
Owned (REO) property.
    2. Section 523 Mutual and Self-Help Technical Assistance Grants. 
$38,727,000 is available for Section 523 Mutual and Self-Help Technical 
Assistance Grants. Of these funds, $993,000 is set-aside for EZ, EC or 
REAP Zones until June 30, 2008. A technical review and analysis must be 
completed by the Technical and Management Assistance (T&MA) contractor 
on all predevelopment, new, and existing (refunding) grant 
applications.
    3. Section 523 Mutual and Self-Help Site Loans and Section 524 RH 
Site Loans. $4,965,000 and $5,045,000 are available for Section 523 
Mutual Self-Help and Section 524 RH Site loans, respectively.
    4. Section 306C WWD Grants to Individuals in Colonias. The 
objective of the Section 306C WWD individual grant program is to 
facilitate the use of community water or waste disposal systems for the 
residents of the colonias along the U.S.-Mexico border.
    The total amount available to Arizona, California, New Mexico, and 
Texas will be $1,000,000 for FY 2008. This amount is transferred from 
the Rural Utilities Service (RUS) to HCFP for processing individual 
grant applications.
    5. Natural Disaster Funds. Funds are available until exhausted to 
those states with active Presidential Declarations.

II. State Allocations

A. Section 502 Nonsubsidized Guaranteed RH (GRH) Loans
    1. Purchase--Amount Available for Allocation.

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available--Purchase............................     $4,958,563,379
    Less National Office General Reserve.............      1,090,994,365
    Less Special Outreach Area Reserve...............        467,569,014
Basic Formula--Administrative Allocation.............      3,400,000,000
------------------------------------------------------------------------

    a. National Office General Reserve. The Administrator may restrict 
access to this reserve for states not meeting their goals in special 
outreach areas.
    b. Special Outreach Areas. FY 2008 GRH funding is allocated to 
states in two funding streams. Seventy percent of GRH funds may be used 
in any eligible area. Thirty percent of GRH funds are to be used in 
special outreach areas. Special outreach areas for the GRH program are 
defined as those areas within a state that are not located within a 
metropolitan statistical area (MSA).
    c. National Office Special Area Outreach Reserve. A special 
outreach area reserve fund has been established at the National Office. 
Funds from this reserve may only be used in special outreach areas.
    2. Refinance--Amount available for allocation.

------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available--Refinance.............................     $269,375,804
Less National Office General Reserve...................      269,375,804
Basic Formula--Administrative Allocation...............                0
------------------------------------------------------------------------

    a. Refinance Funds. Refinance loan funds will be distributed from 
the National Office on a case-by-case basis.
    b. National Office General Reserve. The Administrator may restrict 
access to this reserve for states not meeting their goals in special 
outreach areas.
B. Section 502 Direct RH Loans
    1. Amount Available for Allocation.

[[Page 16627]]



------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available......................................     $1,121,485,933
Less Required Set-Aside for:
    Underserved Counties and Colonias................         56,074,296
    EZ, EC and REAP Set-aside........................         17,978,388
Less General Reserve.................................        170,148,593
    Administrator's Reserve..........................         30,000,000
    Hardships & Homelessness.........................          2,000,000
    Rural Housing Demonstration Program..............          1,000,000
    Homeownership Partnership........................        112,148,593
    Program funds for the sale of REO properties.....         25,000,000
    Less Designated Reserve for Self-Help............        175,000,000
    Basic Formula--Administrative Allocation.........        702,284,655
------------------------------------------------------------------------

    2. Reserves.
    a. State Office Reserve. State Directors must maintain an adequate 
reserve to fund the following applications:
    (i) Hardship and homeless applicants including the Direct Section 
502 loan and Section 504 loan and grant programs.
    (ii) Rural Home Loan Partnerships (RHLP) and Community Development 
Financial Institutions (CDFI) loans.
    (iii) States will leverage with funding from other sources.
    (iv) Areas targeted by the state, according to its strategic plan.
    b. National Office Reserves.
    (i) General Reserve. The National Office has a general reserve of 
$170.1 million. Of this amount, the Administrator's reserve is 
$30,000,000. One of the purposes of the Administrator's reserve will be 
for loans in Indian Country. Indian Country consists of land inside the 
boundaries of Indian reservations, communities made up mainly of Native 
Americans, Indian trust and restricted land, and tribal allotted lands. 
Another purpose of the reserve will be to provide funding for 
subsequent loans for essential improvements or repairs and transfers 
with assumptions. The Administrator's reserve may also be made 
available to states beginning in the 3rd quarter when demand for funds 
is unusually high.
    (ii) Hardship and Homelessness Reserve. $2 million has been set 
aside for hardships and homeless.
    (iii) Rural Housing Demonstration Program. $1 million has been set 
aside for innovative demonstration initiatives.
    (iv) Program Credit Sales. $25 million has been set aside for 
program sales of REO property.
    c. Homeownership Partnership. $112.1 million has been set aside for 
Homeownership Partnerships. These funds will be used to expand existing 
partnerships and create new partnerships, such as the following:
    (i) Department of the Treasury, Community Development Financial 
Institutions (CDFI). Funds will be available to fund leveraged loans 
made in partnership with the Department of Treasury CDFI participants.
    (ii) Partnership initiatives established to carry out the 
objectives of the Rural Home Loan Partnership (RHLP).
    d. Designated Reserve for Self-Help. $175 million has been set-
aside to assist participating Self-Help applicants. The National Office 
will contribute 100 percent from the National Office reserve. States 
are not required to contribute from their allocated Section 502 funds.
    e. Underserved Counties and Colonias. An amount of $56,074,296 has 
been set-aside for the 100 underserved counties and colonias.
    f. Empowerment Zone (EZ), Enterprise Community (EC) or Rural 
Economic Area Partnership (REAP) set-aside. An amount of $17,978,388 
has been set-aside until June 30, 2008, for loans in EZ, EC or REAP 
zones.
    g. State Office Pooling. If pooling is conducted within a state, it 
must not take place within the first 30 calendar days of the first, 
second, or third quarter. (There are no restrictions on pooling in the 
fourth quarter.)
    h. Suballocation by the State Director. The State Director may 
suballocate to each area office using the methodology and formulas 
required by 7 CFR part 1940, subpart L. If suballocated to the area 
level, the Rural Development Manager will make funds available on a 
first-come, first-served basis to all offices at the field or area 
level. No field office will have its access to funds restricted without 
the prior written approval of the Administrator.
    C. Section 504 Housing Loans and Grants. Section 504 grant funds 
are included in the Rural Housing Assistance Grant program (RHAG) in 
the FY 2008 appropriation.
    1. Amount available for allocation.

                            Section 504 Loans
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available.........................................     $34,409,013
Less 5% for 100 Underserved Counties and Colonias.......       1,720,450
EZ, EC or REAP Zone Set-aside...........................         627,666
Less General Reserve....................................         733,915
Basic Formula--Administrative Allocation................      31,326,982
------------------------------------------------------------------------


                           Section 504 Grants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Total Available.........................................     $29,790,000
Less 5% for 100 Underserved Counties and Colonias.......       1,489,500
Less EZ, EC or REAP Set-aside...........................         595,800
Less General Reserve....................................       1,649,895
Basic Formula--Administrative Allocation................      26,054,805
------------------------------------------------------------------------

    2. Reserves and Set-asides.
    a. State Office Reserve. State Directors must maintain an adequate 
reserve to handle all anticipated hardship applicants based upon 
historical data and projected demand.
    b. Underserved Counties and Colonias. $1,720,450 and $1,489,500 
have been set-aside for the 100 underserved counties and colonias until 
June 30, 2008, for the Section 504 loan and grant programs, 
respectively.
    c. Empowerment Zone (EZ) and Enterprise Community (EC) or Rural 
Economic Area Partnership (REAP) Set-aside (Loan Funds Only). $627,666 
and $595,800 have been set-aside through June 30, 2008, for EZ, EC or 
REAPs for the Section 504 loan and grant programs, respectively.
    d. General Reserve. $733,915 for Section 504 loan hardships and 
$1,649,895 for Section 504 grant extreme hardships have been set-aside 
in the general reserve. For Section 504 grants, an extreme hardship 
case is one requiring a significant priority in funding, ahead of other 
requests, due to severe health or safety hazards, or physical needs of 
the applicant.

[[Page 16628]]



 Information on Basic Formula Criteria, Data Source and Weight, Administrative Allocation, Pooling of Funds, and
                                         Availability of the Allocation
----------------------------------------------------------------------------------------------------------------
                                                          Section 502
                                                         nonsubsidized    Section 502 direct   Section 504 loans
               No.                    Description        guaranteed RH         RH loans           and grants
                                                             loans
----------------------------------------------------------------------------------------------------------------
1...............................  Basic formula       See 7 CFR           See 7 CFR           See 7 CFR
                                   criteria, data      1940.563(b).        1940.565(b).        1940.566(b) and
                                   source, and                                                 1940.567(b).
                                   weight.
2...............................  Administrative
                                   Allocation:.
                                  Western Pacific     $4,000,000........  $2,000,000........  $500,000 loan
                                   Area.                                                       $500,000 grant.
3...............................  Pooling of funds:.
                                  a. Mid-year         If necessary......  If necessary......  If necessary.
                                   pooling.
                                  b. Year-end         August 14, 2008...  July 17, 2008.....  July 17, 2008.
                                   pooling.
                                  c. Underserved      N/A...............  June 30, 2008.....  June 30, 2008.
                                   counties &
                                   colonias.
                                  d. EZ, EC or REAP.  N/A...............  June 30, 2008.....  June 30, 2008.
                                  e. Credit sales...  N/A...............  June 30, 2008.....  N/A.
4...............................  Availability of
                                   the allocation:.
                                  a. first quarter..  40 percent........  25 percent........  25 percent.
                                  b. second quarter.  70 percent........  50 percent........  50 percent.
                                  c. third quarter..  90 percent........  75 percent........  75 percent.
                                  d. fourth quarter.  100 percent.......  100 percent.......  100 percent.
----------------------------------------------------------------------------------------------------------------

    1. Data derived from the 2000 U.S. Census is available on the Web 
at: https://census.sc.egov.usda.gov.
    2. Due to the absence of Census data.
    3. All dates are tentative and are for the close of business (COB). 
Pooled funds will be placed in the National Office reserve and made 
available administratively. The Administrator reserves the right to 
redistribute funds based upon program performance.
    4. Funds will be distributed cumulatively through each quarter 
listed until the National Office year-end pooling date.
    The U.S. Department of Agriculture (USDA) prohibits discrimination 
in all its programs and activities on the basis of race, color, 
national origin, age, disability, and where applicable, sex, marital 
status, familial status, parental status, religion, sexual orientation, 
genetic information, political beliefs, reprisal, or because all or 
part of an individual's income is derived from any public assistance 
program. (Not all prohibited bases apply to all programs.) Persons with 
disabilities who require alternative means for communication of program 
information (Braille, large print, audiotape, etc.) should contact 
USDA's TARGET Center at (202) 720-2600 (voice and TDD).
    To file a complaint of discrimination write to USDA, Director, 
Office of Civil Rights, 1400 Independence Avenue, SW., Washington, DC 
20250-9410 or call (800) 795-3272 (voice) or (202) 720-6382 (TDD). USDA 
is an equal opportunity provider, employer, and lender.

    Dated: March 20, 2008.
Russell T. Davis,
Administrator, Rural Housing Service.

     HCFP Fiscal Year 2008--Section 533--Housing Preservation Grant
                        [Allocation in Thousands]
------------------------------------------------------------------------
                                                               Total
                  State                   Formula factor    allocation
------------------------------------------------------------------------
ALABAMA.................................         0.02957      237,752.66
ALASKA..................................         0.00587       47,196.76
ARIZONA.................................         0.01780      143,117.94
ARKANSAS................................         0.02310      185,731.71
CALIFORNIA..............................         0.04653      374,116.72
COLORADO................................         0.00840       67,538.80
DELAWARE................................         0.00190       15,276.63
MARYLAND................................         0.00880       70,754.94
FLORIDA.................................         0.02890      232,365.64
VIRGIN ISLANDS..........................         0.00273       21,950.11
GEORGIA.................................         0.03867      310,919.70
HAWAII..................................         0.00790       63,518.64
WPA.....................................         0.00647       52,020.96
IDAHO...................................         0.00743       59,739.68
ILLINOIS................................         0.02250      180,907.51
INDIANA.................................         0.02157      173,430.00
IOWA....................................         0.01340      107,740.47
KANSAS..................................         0.01130       90,855.77
KENTUCKY................................         0.03483      280,044.82
LOUISIANA...............................         0.03170      254,878.58
MAINE...................................         0.00913       73,408.25
MASSACHUSETTS...........................         0.00793       63,759.85
CONNECTICUT.............................         0.00453       36,422.71
RHODE ISLAND............................         0.00100        8,040.33
MICHIGAN................................         0.02977      239,360.73
MINNESOTA...............................         0.01673      134,514.78

[[Page 16629]]

 
MISSISSIPPI.............................         0.03180      255,682.61
MISSOURI................................         0.02460      197,792.21
MONTANA.................................         0.00620       49,850.07
NEBRASKA................................         0.00713       57,327.58
NEVADA..................................         0.00263       21,146.08
NEW JERSEY..............................         0.00657       52,824.99
NEW MEXICO..............................         0.01437      115,539.59
NEW YORK................................         0.02753      221,350.38
NORTH CAROLINA..........................         0.04497      361,573.80
NORTH DAKOTA............................         0.00413       33,206.58
OHIO....................................         0.03450      277,391.51
OKLAHOMA................................         0.01917      154,133.20
OREGON..................................         0.01423      114,413.95
PENNSYLVANIA............................         0.03687      296,447.10
PUERTO RICO.............................         0.04923      395,825.62
SOUTH CAROLINA..........................         0.02690      216,284.97
SOUTH DAKOTA............................         0.00597       48,000.79
TENNESSEE...............................         0.02973      239,039.12
TEXAS...................................         0.07645      614,683.50
UTAH....................................         0.00430       34,573.43
VERMONT.................................         0.00403       32,402.54
NEW HAMPSHIRE...........................         0.00503       40,442.88
VIRGINIA................................         0.02660      213,872.87
WASHINGTON..............................         0.01743      140,143.01
WEST VIRGINIA...........................         0.01937      155,741.26
WISCONSIN...............................         0.01873      150,595.45
WYOMING.................................         0.00307       24,683.82
DISTR...................................         1.00000    8,040,333.60
N/O RES.................................  ..............      957,570.40
EZ/EC/REAP..............................  ..............      595,800.00
                                         -------------------------------
    Ttl Avail...........................  ..............    9,593,704.00
------------------------------------------------------------------------


   USDA Rural Development State Office Locations--State Directors/HCFP
                            Program Directors
------------------------------------------------------------------------
 
-------------------------------------------------------------------------
                                 ALABAMA
 
Steve Pelham, Vann McCloud, Sterling Centre, 4121 Carmichael Road, Suite
 601, Montgomery, AL 36106-3683, (334) 279-3400
 
                                 ALASKA
 
Chad Padgett, Deborah Davis, Suite 201, 800 W. Evergreen, Palmer, AK
 99645-6539, (907) 761-7705
 
                                 ARIZONA
 
Eddie Browning, Ernie Wetherbee, Phoenix Corporate Center, 230 North
 First Avenue, Suite 206, Phoenix, AZ 85003-1706, (602) 280-8755
 
                                ARKANSAS
 
Roy Smith, Lawrence McCullough, Room 3416, 700 W. Capitol, Little Rock,
 AR 72201-3225, (501) 301-3200
 
                               CALIFORNIA
 
Benjamin Higgins, Bob Anderson, Agency 4169, 430 G Street, Davis, CA
 95616-4169, (530) 792-5800
 
                                COLORADO
 
Mike Bennett, Jamie Spakow, Room E100, 655 Parfet Street, Lakewood, CO
 80215, (720) 544-2903
 
                           DELAWARE & MARYLAND
 
Marlene B. Elliott, Pat Baker, 1221 College Park Drive, Suite 200,
 Dover, DE 19904, (302) 857-3625
 
                        FLORIDA & VIRGIN ISLANDS
 
Jennifer Delattibodier (Acting), Daryl Cooper, P.O. Box 147010, 4440 NW.
 25th Place, Gainesville, FL 32614-7010, (352) 338-3435
 
                                 GEORGIA
 
F. Stone Workman, Douglas Canup, Stephens Federal Building, 355 E.
 Hancock Avenue, Athens, GA 30601-2768, (706) 546-2162
 
                                 HAWAII
 
Lorraine Shin, Donald Etes, Room 311, Federal Building, 154 Waianuenue
 Avenue, Hilo, HI 96720, (808) 933-8309
 
                                  IDAHO
 
Michael A. Field, Roni Atkins, Suite A1, 9173 W. Barnes Dr., Boise, ID
 83709, (208) 378-5600
 
                                ILLINOIS
 
Douglas Wilson, Barry Ramsey, 2118 W. Park Court, Suite A, Champaign, IL
 61821, (217) 403-6222
 
                                 INDIANA
 
Robert White, Paul Neumann, 5975 Lakeside Boulevard, Indianapolis, IN
 46278, (317) 290-3100
 
                                  IOWA
 
Mark Reisinger, Tim Helmbrecht, Acting, 873 Federal Bldg., 210 Walnut
 Street, Des Moines, IA 50309, (515) 284-4663
 
                                 KANSAS
 
Charles (Chuck) R. Banks, Tim Rogers, 1303 SW. First American Place,
 Suite 100, Topeka, KS 66604-4040, (785) 271-2700
 
                                KENTUCKY
 
Kenneth Slone, Paul Higgins (Acting), Suite 200, 771 Corporate Drive,
 Lexington, KY 40503, (859) 224-7322
 
                                LOUISIANA
 
Clyde Holloway, Debbie Redfearn, 3727 Government Street, Alexandria, LA
 71302, (318) 473-7920
 
                                  MAINE
 
Michael W. Aube, Dale Holmes, P.O. Box 405, 967 Illinois Avenue, Suite
 4, Bangor, ME 04402-0405, (207) 990-9118
 
                           MASSACHUSETTS/CT/RI
 
David H. Tuttle, 451 West Street, Amherst, MA 01002, (413) 253-4300
 

[[Page 16630]]

 
                                MICHIGAN
 
Gene DeRossett, Richard Annis, 3001 Coolidge Road, Suite 200, East
 Lansing, MI 48823, (517) 324-5100
 
                                MINNESOTA
 
Stephen G. Wenzel, Lance Larson, 410 AgriBank Bldg., 375 Jackson Street,
 St. Paul, MN 55101-1853, (651) 602-7792
 
                               MISSISSIPPI
 
George Irvin, Johnny Jones, Federal Bldg., Suite 831, 100 W. Capitol
 Street, Jackson, MS 39269, (601) 965-4325
 
                                MISSOURI
 
Anita J. (Janie) Dunning, Acting, Randy Griffith, Parkade Center, Suite
 235, 601 Business Loop 70 West, Columbia, MO 65203, (573) 876-9301
 
                                 MONTANA
 
Clark Johnson, Debra Chorlton, Suite B, 900 Technology Boulevard,
 Bozeman, MT 59715, (406) 585-2551
 
                                NEBRASKA
 
Scot Blehm, Byron Fischer, Federal Bldg., Room 152, 100 Centennial Mall
 N., Lincoln, NE 68508, (402) 437-5551
 
                                 NEVADA
 
Larry J. Smith, Bill Brewer, 1390 South Curry Street, Carson City, NV
 89703, (775) 887-1222
 
                               NEW JERSEY
 
Andrew (Andy) M.G. Law, George Hyatt, 5th Floor N. Suite 500, 8000
 Midlantic Drive, Mt. Laurel, NJ 08054, (856) 787-7700
 
                               NEW MEXICO
 
Ryan Gleason, Art Garcia, Room 255, 6200 Jefferson Street, NE.,
 Albuquerque, NM 87109, (505) 761-4973
 
                                NEW YORK
 
Patrick Brennan, Jennifer Jackson, The Galleries of Syracuse, 441 S.
 Salina Street, Suite 357, Syracuse, NY 13202-2541, (315) 477-6417
 
                             NORTH CAROLINA
 
John Cooper, Mel Ellis, Suite 260, 4405 Bland Road, Raleigh, NC 27609,
 (919) 873-2000
 
                              NORTH DAKOTA
 
Clare Carlson, Mark Wax, Federal Bldg., Room 208, 220 East Rooser, P.O.
 Box 1737, Bismarck, ND 58502-1737, (701) 530-2061
 
                                  OHIO
 
Randall Hunt, Gerald Arnott, Federal Bldg., Room 507, 200 N. High
 Street, Columbus, OH 43215-2477, (614) 255-2500
 
                                OKLAHOMA
 
Brent J. Kisling, Tommy Earls, Suite 108, 100 USDA, Stillwater, OK 74074-
 2654, (405) 742-1000
 
                                 OREGON
 
Mark Simmons, Rod Hansen, 1201 NE. Lloyd Blvd., Suite 801, Portland, OR
 97232, (503) 414-3300
 
                              PENNSYLVANIA
 
Gary Groves, Frank Wetherhold, Suite 330, One Credit Union Place,
 Harrisburg, PA 17110-2996, (717) 237-2299
 
                               PUERTO RICO
 
Jose Otero-Garcia, Pedro Gomez, IBM Building, Suite 601, 654 Munoz
 Rivera Avenue, San Juan, PR 00936-6106, (787) 766-5095
 
                             SOUTH CAROLINA
 
Tee Miller, Herbert Koon, Strom Thurmond Federal Bldg., 1835 Assembly
 Street, Room 1007, Columbia, SC 29201, (803) 765-5163
 
                              SOUTH DAKOTA
 
Mike Jaspers, Roger Hazuka, Federal Bldg., Room 210, 200 Fourth Street,
 SW., Huron, SD 57350, (605) 352-1100
 
                                TENNESSEE
 
Mary (Ruth) Tackett, Donald L. Harris, Suite 300, 3322 W. End Avenue,
 Nashville, TN 37203-1084, (615) 783-1300
 
                                  TEXAS
 
Scooter Brockette, Acting, Scooter Brockette, Federal Bldg., Suite 102,
 101 S. Main, Temple, TX 76501, (254) 742-9700
 
                                  UTAH
 
John R. Cox, Dave Brown, Wallace F. Bennett Federal Bldg., 125 S. State
 Street, Room 4311, Salt Lake City, UT 84147, (801) 524-4320
 
                         VERMONT & NEW HAMPSHIRE
 
Jolinda H. LaClair, Bob McDonald, City Center, 3rd Floor, 89 Main
 Street, Montpelier, VT 05602, (802) 828-6000
 
                                VIRGINIA
 
Ellen M. Davis, James Reid, 1606 Santa Rosa Road, Suite 238, Richmond,
 VA 23229-5014, (804) 287-1598
 
                               WASHINGTON
 
Jon DeVaney, Robert Lund, Suite B, 1835 Black Lake Blvd., SW. Olympia,
 WA 98512-5715, (360) 704-7740
 
                              WEST VIRGINIA
 
Rick Rice, Dianne Crysler, Federal Bldg., Room 320, 75 High Street,
 Morgantown, WV 26505-7500, (304) 284-4860
 
                                WISCONSIN
 
Frank Frassetto, 4949 Kirschling Court, Stevens Point, WI 54481, (715)
 345-7600
 
                                 WYOMING
 
Del Tinsley, Alan Brooks, Federal Building, Room 1005, 100 East B, P.O.
 Box 11005, Casper, WY 82602, (307) 233-6700
------------------------------------------------------------------------


     HCFP--Fiscal Year 2008--Section 502 Direct Rural Housing Loans
                       [Allocations in thousands]
------------------------------------------------------------------------
                                            State basic    Total FY 2008
                  State                   formula factor    allocation
------------------------------------------------------------------------
ALABAMA.................................      0.02893348         $18,168
ALASKA..................................      0.00623983           7,055
ARIZONA.................................      0.01551438          11,597
ARKANSAS................................      0.02202430          14,785
CALIFORNIA..............................      0.04281159          24,964
COLORADO................................      0.01225178           9,999
CONNECTICUT.............................      0.00445853           6,183
DELAWARE................................      0.00293815           5,439
FLORIDA.................................      0.02769317          17,561
GEORGIA.................................      0.03803061          22,623
HAWAII..................................      0.00623301           7,052
IDAHO...................................      0.00847438           8,150
ILLINOIS................................      0.02627571          16,866
INDIANA.................................      0.02616726          16,813
IOWA....................................      0.01764334          12,639
KANSAS..................................      0.01336777          10,546
KENTUCKY................................      0.02807301          17,747
LOUISIANA...............................      0.02361424          15,563

[[Page 16631]]

 
MAINE...................................      0.01109070           9,431
MARYLAND................................      0.01010209           8,947
MASSACHUSETTS...........................      0.00622585           7,049
MICHIGAN................................      0.03579346          21,527
MINNESOTA...............................      0.02361828          15,565
MISSISSIPPI.............................      0.02636473          16,910
MISSOURI................................      0.02809053          17,755
MONTANA.................................      0.00738806           7,618
NEBRASKA................................      0.00953784           8,670
NEVADA..................................      0.00339314           5,662
NEW HAMPSHIRE...........................      0.00666198           7,262
NEW JERSEY..............................      0.00551402           6,700
NEW MEXICO..............................      0.01296637          10,349
NEW YORK................................      0.03378933          20,546
NORTH CAROLINA..........................      0.05148079          29,209
NORTH DAKOTA............................      0.00469453           6,299
OHIO....................................      0.03725173          22,241
OKLAHOMA................................      0.02019475          13,889
OREGON..................................      0.01654303          12,101
PENNSYLVANIA............................      0.04269918          24,909
PUERTO RICO.............................      0.00884495          10,123
RHODE ISLAND............................      0.00090026           4,441
SOUTH CAROLINA..........................      0.02669849          17,074
SOUTH DAKOTA............................      0.00705037           7,452
TENNESSEE...............................      0.03062418          18,996
TEXAS...................................      0.07365688          40,068
UTAH....................................      0.00500465           6,451
VERMONT.................................      0.00579860           6,839
VIRGIN ISLANDS..........................      0.00217552           5,065
VIRGINIA................................      0.02711459          17,277
WASHINGTON..............................      0.01939199          13,496
WEST PAC ISLANDS........................      0.00239453           2,000
WEST VIRGINIA...........................      0.01591004          11,791
WISCONSIN...............................      0.02634031          16,898
WYOMING.................................      0.00393497           5,927
                                         -------------------------------
    State Totals........................  ..............         702,285
    100 Underserved Counties/Colonias...  ..............          56,074
    Empowerment Zones and Enterprise      ..............          17,978
     Community Set-Aside................
    General Reserve.....................  ..............         170,149
    Self Help...........................  ..............         175,000
                                         -------------------------------
        Total...........................  ..............       1,121,485
------------------------------------------------------------------------


                         HCFP--Fiscal Year 2008--Section 502 Direct Rural Housing Loans
                                            [Allocation in thousands]
----------------------------------------------------------------------------------------------------------------
                                                                                     Very low
                                                                   Total FY 2008      income        Low income
                              State                                 allocation     allocation 45   allocation 55
                                                                                      percent         percent
----------------------------------------------------------------------------------------------------------------
1 ALABAMA.......................................................         $18,168          $8,176          $9,992
60 ALASKA.......................................................           7,055           3,175           3,880
2 ARIZONA.......................................................          11,597           5,219           6,378
3 ARKANSAS......................................................          14,785           6,653           8,132
4 CALIFORNIA....................................................          24,964          11,234          13,730
5 COLORADO......................................................           9,999           4,500           5,499
6 CONNECTICUT...................................................           6,183           2,782           3,401
7 DELAWARE......................................................           5,439           2,448           2,991
9 FLORIDA.......................................................          17,561           7,902           9,659
10 GEORGIA......................................................          22,623          10,180          12,443
61 HAWAII.......................................................           7,052           3,173           3,879
12 IDAHO........................................................           8,150           3,668           4,483
13 ILLINOIS.....................................................          16,866           7,590           9,276
15 INDIANA......................................................          16,813           7,566           9,247
16 IOWA.........................................................          12,639           5,688           6,951
18 KANSAS.......................................................          10,546           4,746           5,800
20 KENTUCKY.....................................................          17,747           7,986           9,761

[[Page 16632]]

 
22 LOUISIANA....................................................          15,563           7,003           8,560
23 MAINE........................................................           9,431           4,244           5,187
24 MARYLAND.....................................................           8,947           4,026           4,921
25 MASSACHUSETTS................................................           7,049           3,172           3,877
26 MICHIGAN.....................................................          21,527           9,687          11,840
27 MINNESOTA....................................................          15,565           7,004           8,561
28 MISSISSIPPI..................................................          16,910           7,610           9,301
29 MISSOURI.....................................................          17,755           7,990           9,765
31 MONTANA......................................................           7,618           3,428           4,190
32 NEBRASKA.....................................................           8,670           3,902           4,769
33 NEVADA.......................................................           5,662           2,548           3,114
34 NEW HAMPSHIRE................................................           7,262           3,268           3,994
35 NEW JERSY....................................................           6,700           3,015           3,685
36 NEW MEXICO...................................................          10,349           4,657           5,692
37 NEW YORK.....................................................          20,546           9,246          11,300
38 NORTH CAROLINA...............................................          29,209          13,144          16,065
40 NORTH DAKOTA.................................................           6,299           2,835           3,464
41 OHIO.........................................................          22,241          10,008          12,233
42 OKLAHOMA.....................................................          13,889           6,250           7,639
43 OREGON.......................................................          12,101           5,445           6,656
44 PENNSYLVANIA.................................................          24,909          11,209          13,700
63 PUERTO RICO..................................................          10,123           4,555           5,568
45 RHODE ISLAND.................................................           4,441           1,998           2,443
46 SOUTH CAROLINA...............................................          17,074           7,683           9,391
47 SOUTH DAKOTA.................................................           7,452           3,353           4,099
48 TENNESSEE....................................................          18,996           8,548          10,448
49 TEXAS........................................................          40,068          18,031          22,037
52 UTAH.........................................................           6,451           2,903           3,548
53 VERMONT......................................................           6,839           3,078           3,761
64 VIRGIN ISLANDS...............................................           5,065           2,279           2,786
54 VIRGINIA.....................................................          17,277           7,775           9,502
56 WASHINGTON...................................................          13,496           6,073           7,423
62 WEST PAC ISLANDS.............................................           2,000             900           1,100
57 WEST VIRGINIA................................................          11,791           5,306           6,485
58 WISCONSIN....................................................          16,898           7,604           9,294
59 WYOMING......................................................           5,927           2,667           3,260
                                                                 -----------------------------------------------
    State Totals................................................         702,285         316,028         386,257
    100 Underserved Counties/Colonias...........................          56,074          25,233          30,841
    EZ/EC/REAP Reserve..........................................          17,978           8,090           9,888
    General Reserve.............................................         170,149          76,567          93,582
    Self Help...................................................         175,000          78,750          96,250
                                                                 -----------------------------------------------
        Total...................................................       1,121,485         504,668         616,817
----------------------------------------------------------------------------------------------------------------


                  HCFP--Fiscal Year 2008--Section 502 Guaranteed Purchase Loans (Nonsubsidized)
                                         [Allocation in actual dollars]
----------------------------------------------------------------------------------------------------------------
                                                                                    Additional
                                                    State basic    FY 2008 state  administrative   Total FY 2008
                      State                       formula factor   basic formula   allocation FY    allocation
                                                                    allocation         2008
----------------------------------------------------------------------------------------------------------------
Alabama.........................................      0.02657575     $66,439,375              $0     $66,439,375
Alaska..........................................      0.00722325      18,058,125      10,937,359      28,995,484
Arizona.........................................      0.01640900      41,022,500               0      41,022,500
Arkansas........................................      0.02282102      57,052,550      63,553,262     120,605,812
California......................................      0.05030996     125,774,900               0     125,774,900
Colorado........................................      0.01357525      33,938,125               0      33,938,125
Connecticut.....................................      0.00408986      10,224,650               0      10,224,650
Delaware........................................      0.00276106       6,902,650       1,713,350       8,616,000
Florida.........................................      0.02650361      66,259,025               0      66,259,025
Georgia.........................................      0.03793281      94,832,025               0      94,832,025
Hawaii..........................................      0.00796215      19,905,375               0      19,905,375
Idaho...........................................      0.00888491      22,212,275       5,620,284      27,832,559
Illinois........................................      0.02591265      64,781,625     129,541,273     194,322,898
Indiana.........................................      0.02361952      59,048,800               0      59,048,800

[[Page 16633]]

 
Iowa............................................      0.01674764     $41,869,100     $11,998,164     $53,867,264
Kansas..........................................      0.01333450      33,336,250      36,218,726      69,554,976
Kentucky........................................      0.02667768      66,694,200      38,659,598     105,353,798
Louisiana.......................................      0.02306785      57,669,625               0      57,669,625
Maine...........................................      0.01154316      28,857,900      13,702,932      42,560,832
Maryland........................................      0.00944838      23,620,950       4,968,254      28,589,204
Massachusetts...................................      0.00620846      15,521,150               0      15,521,150
Michigan........................................      0.03318174      82,954,350      98,230,746     181,185,096
Minnesota.......................................      0.02265572      56,639,300      75,312,997     131,952,297
Mississippi.....................................      0.02650848      66,271,200               0      66,271,200
Missouri........................................      0.02830414      70,760,350      69,488,422     140,248,772
Montana.........................................      0.00778549      19,463,725      17,437,568      36,901,293
Nebraska........................................      0.00963559      24,088,975       4,998,792      29,087,767
Nevada..........................................      0.00373060       9,326,500               0       9,326,500
New Hampshire...................................      0.00696793      17,419,825               0      17,419,825
New Jersey......................................      0.00489407      12,235,175       4,339,860      16,575,035
New Mexico......................................      0.01349689      33,742,225               0      33,742,225
New York........................................      0.03640605      91,015,125               0      91,015,125
North Carolina..................................      0.05076681     126,917,025               0     126,917,025
North Dakota....................................      0.00440032      11,000,800       2,080,579      13,081,379
Ohio............................................      0.03518978      87,974,450       2,418,898      90,393,348
Oklahoma........................................      0.02008600      50,215,000      10,401,466      60,616,466
Oregon..........................................      0.01909631      47,740,775               0      47,740,775
Pennsylvania....................................      0.04089133     102,228,325               0     102,228,325
Puerto Rico.....................................      0.00919939      22,998,475     131,612,371     154,610,846
Rhode Island....................................      0.00075627       1,890,675               0       1,890,675
South Carolina..................................      0.02526494      63,162,350               0      63,162,350
South Dakota....................................      0.00751015      18,775,375      53,138,707      71,914,082
Tennessee.......................................      0.02902148      72,553,700      45,526,777     118,080,477
Texas...........................................      0.07276234     181,905,850               0     181,905,850
Utah............................................      0.00510515      12,762,875      11,985,564      24,748,439
Vermont.........................................      0.00663633      16,590,825               0      16,590,825
Virgin Islands..................................      0.00306743       7,668,575               0       7,668,575
Virginia........................................      0.02554389      63,859,725      37,186,762     101,046,487
Washington......................................      0.02205374      55,134,350               0      55,134,350
West Pac........................................             N/A               0       8,298,821       8,298,821
West Virginia...................................      0.01502432      37,560,800       8,274,490      45,835,290
Wisconsin.......................................      0.02575423      64,385,575       9,211,203      73,596,778
Wyoming.........................................      0.00395173       9,879,325               0       9,879,325
                                                 ---------------------------------------------------------------
    State Totals................................  ..............  ..............  ..............   3,400,000,000
    General Reserve.............................  ..............  ..............  ..............   1,090,994,365
    Special Outreach Areas Reserve..............  ..............  ..............  ..............     467,569,014
                                                 ---------------------------------------------------------------
        Total...................................  ..............  ..............  ..............  4,958,563,379
----------------------------------------------------------------------------------------------------------------
**Total includes FY 2007 Carryover and Rescission.


     HCFP--Fiscal Year 2008--Section 502 Guaranteed Refinance Loans
                             (Nonsubsidized)
                     [Allocation in actual dollars]
------------------------------------------------------------------------
                                            State basic    Total FY 2008
                  State                   formula factor    allocation
------------------------------------------------------------------------
Alabama.................................             N/A              $0
Alaska..................................             N/A               0
Arizona.................................             N/A               0
Arkansas................................             N/A               0
California..............................             N/A               0
Colorado................................             N/A               0
Connecticut.............................             N/A               0
Delaware................................             N/A               0
Florida.................................             N/A               0
Georgia.................................             N/A               0
Hawaii..................................             N/A               0
Idaho...................................             N/A               0
Illinois................................             N/A               0
Indiana.................................             N/A               0

[[Page 16634]]

 
Iowa....................................             N/A               0
Kansas..................................             N/A