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RCAC Self-Help Builder News December 2011 Volume 4, Issue 4 >
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The Interest Rate for the 502 Direct Loan Program in December is 3.25 percent.
Procedure Notices
Procedure Notice 452:
Handbook HB 1-3550 was partially revised to extend the tax service fees in 2011 and list the interest rates for the above modest interest rates.
Unnumbered Letters
October 4, 2011: Additional Guidance for Single Family Housing Direct
HB-1-3550 Revision PN 451
dated September 1, 2011. This unnumbered letter provides clarification and implementation policy for the revisions to Handbook 1-3550 issued in Procedure Notice (PN) 451 dated September 1, 2011.
November 30, 2011-Modest Housing Determinations
:
This unnumbered letter is meant to clarify and to provide guidance on the modest housing. Maximum square footages are listed for four regions of the country with an eye to not exceeding the loan limits and appraised values in fluctuating real estate markets. The letter prohibits states from taking additional considerations from the modest housing determinations.
Administrative Notices
RD AN No. 4602 (1924-A) October 28, 2011: Rural Development Compliance with Lead-Based Paint Rule.
USDA will comply with HUD 2004 and EPA 2008 standards for lead based paint. State architects will be responsible for air quality, lead based paint and mold in construction projects.
RD AN No. 4600 (1924-A) October 12, 2011: Acceptance of Termite Forms.
USDA will use the current forms from the National Pest Management Association. They are listed in the AN.
RD AN No. 4601 (1980-D) October 17, 2011: Single Family Housing Guaranteed and Direct Loan Programs Adoption of the new Uniform Appraisal Dataset.
The purpose of this Administrative Notice (AN) is to announce the USDA Rural Development Single Family Housing Section 502 Guaranteed and Direct Loan Programs will adopt the new Fannie Mae and Freddie Mac Uniform Appraisal Dataset (UAD). The adopted date is effective September 1 but has a transition period where old or new forms may be used. The new dataset will be mandatory on January 1, 2012.
RD AN No. 4603 (1924-A) October 28, 2011: The Effect of the Energy Independence and Security Act of 2007 on RHS Projects.
USDA will be complying with the Energy Independence and Security Act for new housing construction. The Act sets standards for appliance and energy equipment installed in new homes but does not relate to Manufactured Housing. Those standards are still governed by HUD.
Final Budget Numbers
USDA’s budget
was passed and signed along with several other agencies such as HUD. Other agencies that did not have a budget approved were continued until December 16 on another Continuing Resolution. For more details on the final numbers go to:
Other Reference Information
HAC EXAMINES SUPPLEMENTAL POVERTY MEASURE. A new HAC research brief, “Supplemental Poverty Measure: Understanding the change in rural (nonmetro) poverty estimates,” examines a new Census Bureau calculation that attempts to address some of the limitations of the official poverty estimate measure, which was created in the 1960s and is used by an estimated 82 federal programs as a factor in allocating monies. The supplemental measure will not replace the official measure. It generated a national nonmetro poverty rate estimate of 12.8 percent, compared to the official rate of 16.6 percent, probably because of differences in housing costs. The research brief is free at http://www.ruralhome.org or from Dan Stern, HAC, dan@ruralhome.org, 202-842-8600.