Guaranteed Single Family Housing Loans
The Rural Housing Service (RHS) is amending its regulations to add new servicing options to the Single Family Housing Guaranteed Loan Program (SFHGLP) that lenders may utilize while still maintaining the SFHGLP loan guarantee. The Agency will allow lenders to extend loans for a term of up to 40 years from the date of modification. The Agency also will allow lenders to advance funds on behalf of borrowers in amounts necessary to bring defaulted loans current, up to 30 percent of the unpaid principal balance of the loan. Upon request, RHS will reimburse the lender for eligible advances. The intended effect is to reduce mortgage foreclosures among SFHGLP borrowers and help stabilize the national housing market. This amendment is being issued as a final rule pursuant to section 101(c)(1) of the Helping Families Save Their Homes Act of 2009, which authorizes RHS to promulgate this rule without regard to the notice and comment provisions of 5 U.S.C. 553 or the Statement of Policy of the Secretary of Agriculture effective July 24, 1971 (36 FR 13804) relating to notices of proposed rulemaking and public participation in rulemaking.
Notice of Funding Availability: Rural Development Voucher Program
The Rural Housing Service published a document in the Federal Register on April 14, 2010, announcing the funding available for the Rural Development Voucher Program. A correction to the document is needed to clarify what documentation is required for proof of citizenship and to correct the median income hyperlink.
Project Waiver Granted to Custer County, South Dakota for the Purchase of Foreign Manufactured Heating, Ventilation, Air Conditioning (HVAC) Equipment
The United States Department of Agriculture (``USDA'') grants a project waiver of the Buy American Requirements of the American Recovery and Reinvestment Act of 2009 (``ARRA''), to Custer County, South Dakota (``County'') for the purchase of foreign manufactured Heating, Ventilation, Air Conditioning (``HVAC'') equipment for a Courthouse renovation and expansion project because the necessary manufactured goods are not produced in the United States in sufficient and reasonably available quantities and of a satisfactory quality. This action permits the purchase of a Daikin VRV III HVAC unit and Tempeff Dual Core Technology unit of Japan and Canada respectively. These units