Rural Housing Service October 2006 – Federal Register Recent Federal Regulation Documents

Annual Guarantee Fee Due Date
Document Number: E6-16399
Type: Proposed Rule
Date: 2006-10-04
Agency: Department of Agriculture, Rural Housing Service
The Rural Housing Service, an Agency under USDA Rural Development, is proposing to amend its regulations to change the due date of the annual guarantee fee. The annual fee is a non-refundable amount that the lender must pay each year that the loan guarantee remains in effect. Currently, the Finance Office in St. Louis calculates annual fees manually since the borrower submissions of December 31 year-end financial information are not loaded into their automated systems by January 1, when annual fees are due. The Finance Office has requested that the annual fee due date be changed from January 1 to February 28 to allow their automated systems to be uploaded with December 31 year-end information thus enabling them to automate the annual fee calculation process.