Rural Housing Service September 2016 – Federal Register Recent Federal Regulation Documents

This document contains a correction to 7 CFR part 1940, subpart L, ``Methodology and Formulas for Allocation of Loan and Grant Program Funds'' to provide reference to the Rural Business Development Program, which replaced the Rural Business Enterprise Grant program and the Rural Business Opportunity Grant program.

On May 19, 2016, the final rule for the certified loan application packaging process for the direct single family housing loan program became effective. See 80 FR 23673 (April 29, 2015) and 81 FR 8389 (February 19, 2016). The Administrator has the ability to temporarily reclassify applications received through the certified loan application packaging process as fourth funding priority when funds are insufficient to serve all program-eligible applicants, when determined appropriate. See 7 CFR 3550.55(c)(5). In accordance with this regulatory allowance, the Administrator will grant fourth funding priority to loan application packages received via an Agency-approved intermediary when funds are insufficient to serve all program-eligible applicants. This reclassification will remain in effect until further notice via Federal Register notice. This reclassification does not apply to certified packaging bodies working without an intermediary.