Rural Housing Service June 2015 – Federal Register Recent Federal Regulation Documents

On May 20, 2015, USDA published an interim rule establishing a priority for projects that support the implementation of strategic economic and community development plans across multi-jurisdictional areas. This priority applies to several specific programs with the Rural Business-Cooperative Service, the Rural Housing Service, and the Rural Utilities Service. The effective date was listed as June 19, 2015 and is being delayed to July 17, 2015.

The Rural Housing Service (RHS or Agency) published a final rule on April 29, 2015, in the Federal Register that amended its regulations for the section 502 direct single family housing loan program to create a certified loan application packaging process. The section 502 direct single family housing loan program is authorized in Title V of the Housing Act of 1949. Under the certified loan application packaging process, a certified loan application packager and its qualified employer will submit applications to the Agency via an intermediary (unless the applicable Rural Development State Director approves the certified packager to opt not to go through an intermediary). The intermediary will perform quality assurance reviews on the packaged loan applications as well as provide supplemental training, technical assistance, and support to certified packagers and qualified employers to promote quality standards and accountability. Through this notice, the Agency will accept applications to be an intermediary under the certified loan application packaging process outlined in 7 CFR 3550.75 and other applicable regulations. Approval will be subject to fully meeting the conditions outlined within this notice and regulations, a recommendation by a review panel consisting of Agency staff at the state and national levels, and approval by the RHS Administrator. Intermediaries operating under the loan application packaging pilot program, which expires on September 30, 2015, are not guaranteed an intermediary role beyond their participation in the pilot program and must apply under this application process should they wish to serve as an intermediary under the regulation.

Section 6025 of the Agricultural Act of 2014 (2014 Farm Bill) enables the Secretary of Agriculture to provide priority to projects that support Strategic Economic and Community Development plans. This Notice invites applicants who have submitted or will be submitting applications for the programs (referred to as ``underlying programs'') in Fiscal Year 2015. For FY 2015, projects eligible for Section 6025 priority points will compete one time with all other projects eligible for the applicable underlying program's year-end pool of funds. These priority points are not eligible to projects competing for FY 2015 funding prior to the program's year-end pool of funds competition. All applicants are responsible for any additional expenses incurred in preparing and submitting Form RD 1980-88.