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    <RIN_INFO>
        <RIN>0575-AC70</RIN>
        <PUBLICATION>
            <PUBLICATION_ID>200904</PUBLICATION_ID>
            <PUBLICATION_TITLE>Unified Agenda of Federal Regulatory and Deregulatory Actions</PUBLICATION_TITLE>
        </PUBLICATION>
        <AGENCY>
            <CODE>0575</CODE>
            <NAME>Rural Housing Service</NAME>
            <ACRONYM>RHS</ACRONYM>
        </AGENCY>
        <PARENT_AGENCY>
            <CODE>0500</CODE>
            <NAME>Department of Agriculture</NAME>
            <ACRONYM>USDA</ACRONYM>
        </PARENT_AGENCY>
        <RULE_TITLE>Section 538 Guaranteed Rural Rental Housing Program--Appraisal Requirement</RULE_TITLE>
        <ABSTRACT><![CDATA[Rural Development is modifying 7 CFR 3565, section 3565.303(d)(1) to eliminate the updated appraisal requirement of the project as built for properties that meet the following criteria: (1) Have a Rural Development guaranteed loan to cost ratio of 50 percent or less, and (2) have an original appraised value equal to or greater than the section 538 guaranteed loan amount.  The purpose of this change is to streamline the issuance of the permanent loan guarantee for projects that have very little risk of default.  Historical foreclosure rates of low loan to cost value properties are reported to be 0.01 percent or 1 percent (Ernst & Young, LLC, Ernst & Young Confirms Positive Returns, Multi-Family Housing News, August 2004, pg. 6).  Thus, Rural Development seeks to eliminate the undue burden of cost and time that an updated appraisal on low loan to cost value properties unnecessarily imposes on the borrower and Rural Development staff.]]></ABSTRACT>
        <PRIORITY_CATEGORY>Substantive, Nonsignificant</PRIORITY_CATEGORY>
        <RIN_STATUS>Previously Published in The Unified Agenda</RIN_STATUS>
        <RULE_STAGE>Final Rule Stage</RULE_STAGE>
        <MAJOR>Undetermined</MAJOR>
        <UNFUNDED_MANDATE_LIST>
            <UNFUNDED_MANDATE>No</UNFUNDED_MANDATE>
        </UNFUNDED_MANDATE_LIST>
        <CFR_LIST>
            <CFR>7 CFR 3565</CFR>
        </CFR_LIST>
        <LEGAL_AUTHORITY_LIST>
            <LEGAL_AUTHORITY>5 USC 301</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>7 USC 1989</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>42 USC 1480</LEGAL_AUTHORITY>
        </LEGAL_AUTHORITY_LIST>
        <LEGAL_DLINE_LIST/>
        <RPLAN_ENTRY>No</RPLAN_ENTRY>
        <TIMETABLE_LIST>
            <TIMETABLE>
                <TTBL_ACTION>Direct Final Rule</TTBL_ACTION>
                <TTBL_DATE>09/00/2009</TTBL_DATE>
            </TIMETABLE>
        </TIMETABLE_LIST>
        <RFA_REQUIRED>Undetermined</RFA_REQUIRED>
        <GOVT_LEVEL_LIST>
            <GOVT_LEVEL>Undetermined</GOVT_LEVEL>
        </GOVT_LEVEL_LIST>
        <FEDERALISM>Undetermined</FEDERALISM>
        <ENERGY_AFFECTED>Undetermined</ENERGY_AFFECTED>
        <PRINT_PAPER>No</PRINT_PAPER>
        <INTERNATIONAL_INTEREST>No</INTERNATIONAL_INTEREST>
        <AGENCY_CONTACT_LIST>
            <CONTACT>
                <FIRST_NAME>Monica</FIRST_NAME>
                <LAST_NAME>Cole</LAST_NAME>
                <TITLE>Finance and Loan Analyst</TITLE>
                <AGENCY>
                    <CODE>0575</CODE>
                    <NAME>Rural Housing Service</NAME>
                    <ACRONYM>RHS</ACRONYM>
                </AGENCY>
                <PHONE>202 720-1251</PHONE>
                <EMAIL>monica.cole@wdc.usda.gov</EMAIL>
                <MAILING_ADDRESS>
                    <STREET_ADDRESS>STOP 0781, 1400 Independence Avenue SW,</STREET_ADDRESS>
                    <CITY>Washington</CITY>
                    <STATE>DC</STATE>
                    <ZIP>20250-0781</ZIP>
                </MAILING_ADDRESS>
            </CONTACT>
        </AGENCY_CONTACT_LIST>
    </RIN_INFO>
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