Rural Housing Service May 20, 2014 – Federal Register Recent Federal Regulation Documents
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Direct Single Family Housing Loans and Grants
The Rural Housing Service is amending its regulations for the section 502 direct single family housing loans program by reinstating language pertaining to payment assistance method 1 that was inadvertently changed or omitted when the payment subsidy regulation was revised on December 27, 2007. This action will make clear to the public that under this method, the amount of subsidy granted is the difference between the installment due on the promissory note and the greater of the payment amortized at the equivalent interest rate or the payment calculated based on the required floor payment.
Single Family Housing Direct Loan Program
Through this action, the Rural Housing Service (RHS or Agency) proposes to amend its regulations for the section 502 direct single family housing loan program by reinstating language pertaining to payment assistance method 1 that was inadvertently changed or omitted when the payment subsidy regulation was revised on December 27, 2007. This action will make clear to the public that under this method, the amount of subsidy granted is the difference between the installment due on the promissory note and the greater of the payment amortized at the equivalent interest rate or the payment calculated based on the required floor payment.
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