Methodology and Formulas for Allocation of Loan and Grant Program Funds; Correction
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.
Notice of Request for Extension of a Currently Approved Information Collection
In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended), the Rural Housing Service (RHS) invites comments on this information collection for which approval from the Office of Management and Budget (OMB) will be requested. The intention is to request a revision for a currently approved information collection in support of the program for 7 CFR part 1927-B, Real Estate Title Clearance and Loan Closing.
Notice of Intent To Give Fourth Funding Priority to Loan Application Packages Received via an Intermediary Under the Certified Loan Application Packaging Process Within the Section 502 Direct Single Family Housing 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.