June 30, 2022 | Volume 15, Issue 3

CEO update

Celebrating Homeownership Month

I love celebrating homeownership in June! So many things are at their best this month, including my yard, the weather and outdoor activities. Homeownership is very worthy of celebration—it supports the best outcomes for families, children and elderly folks and is the foundation for community stability. Read more

Construction Supervisor Assistance

Has your self-help organization hired a new Construction Supervisor recently? Are they struggling to understand things such as their role and responsibilities, bidding and budgeting, scheduling, group motivation and more? I may be able to help you make sense of these issues. Read more

New USDA 502 Direct Loan Application Packaging Training Website

Interested in becoming a USDA 502 Direct Loan Packager? Looking to locate and contact your local Intermediary? Searching for the next Packaging Certification training delivery? Need 502 Direct Loan Packager information and/or other resources? Look no further…the USDA 502 Direct Training website is here! Read more

Dear Sher

Are we allowed or required to use the USDA logo to help promote the program on marketing materials, out on the jobsite, on job trailers, subdivision signs, etc. Sincerely, How Do I Use the RD Logo? Read more

News you can use

Special Procedural Notice RE: Medical Debt

SPECIAL PN dated May 9, 2022: https://www.rd.usda.gov/sites/default/files/sp050922.pdf provides a summary of the corresponding changes to Handbook-1-3550. USDA RD has made an update to Chapter 4, related to how they will account for medical collections moving forward. This change, in summary, states that medical expenses are an allowable deduction from annual income, when applicable, but medical expenses, debt and/or payment arrangements are not included in total debt ratios.

Special Procedural Notice RE: Income Limits

SPECIAL PN dated June 8, 2022: USDA Rural Development makes changes to HB-1-3550 and HB-1-3555 and updates the Income Limits. The Worksheet for Computing Income and Maximum Loan Calculator has been updated on RD’s website with these new numbers, be sure to update the calculator you are using.