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USDA/RHS RIN: 0575-AC98 Publication ID: Fall 2016 
Title: Multi-Family Housing Financial Reporting 
Abstract:

The Rural Housing Service (RHS) published a proposed rule June 2, 2003 (68 FR 32872), to streamline and consolidate 14 regulations into 7 CFR 3560, which sets forth requirements, policies, and procedures for originating, processing, and servicing Rural Development's Multi-Family Housing (MFH) direct loans and grants. The programs covered by this part are authorized by title V of the Housing Act of 1949.  An interim rule was published November 26, 2004 (69 FR 69032-69176) to implement those changes, with an effective date of February 24, 2005.  This proposed rule is to amend the interim rule  7 CFR 3560, regulations to change program requirements at the property level that will reduce operating costs for the project owner by changing financial reporting requirements. Rural Development (RD) is establishing a rule-based reporting threshold, similar to that of U.S. Department of Housing and Urban Development (HUD). RD’s Financial Reporting also aligns with HUD’s provisions by using a modified version of the "HUD IG Audit Guide.”

 
Agency: Department of Agriculture(USDA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: Undetermined 
EO 13771 Designation: uncollected 
CFR Citation: 7 CFR 3560-A    7 CFR 3560-C    7 CFR 3560-D    7 CFR 3560-E    7 CFR 3560-F    7 CFR 3560-G    7 CFR 3560-M    7 CFR 3560-O     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub. L. 108-447, sec 543    42 U.S.C. 1485    42 U.S.C. 1486    42 U.S.C. 1490a    42 U.S.C. 1490j   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Proposed Rule  08/06/2015  80 FR 46853   
NPRM Comment Period End  10/05/2015 
Final Rule  11/00/2016 
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:
Stephanie White
Multi-Family Housing Direct Loans
Department of Agriculture
Rural Housing Service
STOP 0781, 1400 Independence Avenue SW.,
Washington, DC 20250
Phone:202 720-1615
Fax:202 690-3444
Email: stephanie.white@wdc.usda.gov