View Rule

View EO 12866 Meetings

Printer-Friendly Version Download RIN Data in XML

USDA/RHS

RIN: 0575-AC69

Publication ID: Fall 2008

Title: Direct Single-Family Housing Program
Abstract: This rule will address insurance deductible requirements to industry standards making it easier for new homeowners to secure affordable insurance coverage. This change is needed because of the increase in insurance deductibles requirements imposed by the insurance industry in response to the damages from high winds and water as well as recent hurricanes and tornados. This rule will also address the rural area definition to update the effective date of census data collected from 2000 to 2010. This data is used to determine the population of metropolitan statistical areas. In addition the regulation will increase the applicant net asset limitation from $7,500 to $15,000 for non-elderly families and from $10,000 to $20,000 for elderly families. This limitation imposes requirements for applicants to contribute a down payment when their net assets exceed said limits. These limits have not been updated in over 10 years.
Agency: Department of Agriculture(USDA)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 7 CFR 3550
Legal Authority: 5 USC 301 42 USC 1480

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Direct Final Rule	08/00/2009

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Teresa Sumpter Loan Specialist, Single-Family Housing Direct Loan Division Department of Agriculture Rural Housing Service STOP 0783, 1400 Independence Avenue SW, Washington, DC 20250 Phone:202 720-1485 Fax:202 720-2232 Email: teresa.sumpter@wdc.usda.gov