USDA Section 538 Guaranteed Rural Rental Housing Program 2009 Industry Forums-Open Teleconference and/or Web Conference Meetings
This notice announces a series of teleconference and/or Web conference meetings regarding the USDA Section 538 Guaranteed Rural Rental Housing Program, which will take place during the months of January, April, July and October in 2009. This notice also outlines suggested discussion topics for the meetings and is intended to notify the general public of their opportunity to participate in the teleconference and/or Web conference meetings.
Direct Multi-Family Housing Loans and Grants
The Agency is revising its existing regulation governing Rural Rental Housing loans and grants. This action is necessary to provide editorial corrections to 7 CFR Part 3560, subpart N, ``Housing Preservation.'' The intended effect is to ensure the Agency's field offices have correct guidance on processing prepayment requests.
Income Limit Modification
The Rural Housing Service (RHS) is amending its exiting income limit structure for the Single Family Housing Guaranteed Loan Program (SFHGLP). The effect of this action is to provide more efficient service to lenders, investors and Agency staff by modifying the existing Rural Development eight (8) tiered income structure into a simplified two (2) tiered structure. This modification will simplify program requirements and the qualification process.