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USDA/RHS RIN: 0575-AC82 Publication ID: Fall 2010 
Title: Payment Assistance Formula, Modest Housing Provisions, and Area Loan Limit Guidance 
Abstract: The Rural Housing Service (RHS) proposes to revise 7 CFR 3550, Direct Single Family Housing Loans and Grants, regarding payment assistance, modest housing provisions, and area loan limits. Section 502 Direct Loans provides payment assistance to assist borrowers with the mortgage payment and consequently increase affordability. The amount of assistance is calculated based on a formula that has changed, or adjusted, multiple times over the life of the 502 Direct Loan Program. The formula was modified in FY 2008 to address problems noted after implementation in 1995. The Agency seeks to adjust the formula. 
Agency: Department of Agriculture(USDA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
CFR Citation: 7 CFR 3550 
Legal Authority: 5 USC 301; 42 USC 1480 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/00/2011   
NPRM Comment Period End  10/00/2011   
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michael S. Feinberg
Branch Chief, Loan Origination Branch
Department of Agriculture
Rural Housing Service
1400 Independence Avenue, STOP 0783,
Washington, DC 20250-0783
Phone:202 720-3214
Fax:202 720-2232
Email: michael.feinberg@wdc.usda.gov

 
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