June 13, 2018
Section 502 Direct
Certified Loan Application Packaging Process Updates
Intermediary
Update:
Rural
Development (RD) is announcing a change in the service area for Northwest
Regional Housing Development Corporation (NWRHDC) as an intermediary.
NWRHDC has elected to reduce their service area to Arkansas and Puerto
Rico. As a result, the following areas now
do not have an approved intermediary: Connecticut, Maine, Massachusetts, Minnesota, New Jersey,
North Dakota, Rhode Island, Virgin Islands, and
Wisconsin.
A revised intermediary coverage map can be located on the
program’s Forms
& Resources page.
For areas currently not served by an intermediary, certified
packaging bodies may submit applications directly to a RD Field Office along
with evidence of their certification status. The permissible packaging
fee in this case is up to $1,250 in accordance with Handbook-1-3550,
Chapter 3, Attachment 3-A. This attachment also provides guidance on
applying to be an intermediary. If you meet the eligibility requirements
and are interested in serving as an intermediary (especially in the areas
identified above) please contact Tammy.Repine@wdc.usda.gov.
|