November 30, 2011
Vol. 40, No. 24
UNIFORM APPRAISAL DATASET ADOPTED FOR SECTION 502 DIRECT AND GUARANTEED LOANS. For appraisals completed on or after January 1, appraisers must use the new Fannie Mae and Freddie Mac UAD for both Section 502 programs. For UAD information visit https://www.efanniemae.com/sf/lqi/umdp/uad/index.jsp. RD’s AN 4601 (October 28, 2011) is at http://www.rurdev.usda.gov/rd-an_list.html. Contact an RD office.
RD WILL ACCEPT THIRD-PARTY INITIAL INSPECTIONS FOR SINGLE-FAMILY HOMES. For Section 502 direct loans and Section 504 loans and grants, through September 30, 2012 RD will accept qualified third-party inspectors’ inspections instead of requiring its own staff to visit properties, and will waive some site inspections. Environmental requirements must be met, and RD will conduct final inspections. Details are in an Unnumbered Letter dated October 27; visit http://www.rurdev.usda.gov/SupportDocuments/uloctober11.pdf or contact an RD office.
UPDATED RURAL TENANT DATA RELEASED. USDA’s annual occupancy report for Section 515 and 514/516 rentals states that from April 2010 to May 2011 the total number of Section 515 properties dropped by 270 (about 3,600 apartments) and the number of farmworker properties increased by six. Other data include tenant income, rent burden, gender, race/ethnicity, and more, nationwide and for each state. Find the Unnumbered Letter dated October 4 at http://www.rurdev.usda.gov/SupportDocuments/uloctober11.pdf or contact an RD office.
CORRECTION: FY12 FUNDING NOT SUBJECT TO DEFICIT REDUCTION ACTIONS. The November 16 HAC News stated incorrectly that the recently enacted FY12 funding levels for USDA and HUD could be affected by the Super Committee’s actions or sequestration of funds resulting from its inaction. Any changes would take effect in FY13, not FY12. HAC apologizes for the confusion.