Newsletter:
The second edition of the Loan Packaging Express has been published! Please take a moment to read some success stories and learn about our successful packaging partnerships across the nation. If you have any questions, comments, or feedback, please email: Antonio.Burkett@usda.gov. Thank you for your continued support of our Single Family Housing Direct programs and Happy Holidays!
Intermediary Update: Rural Development (RD) is pleased to announce that CommunityWorks in West Virginia has been approved to act as an intermediary for the certified packaging process in West Virginia. A revised intermediary coverage map can be found on the Direct Loan Application Packager website.
Certified Packaging Course Update:
As part of the certified packaging process, RD partners with the Housing Assistance Council (HAC), NeighborWorks America, and the Rural Community Assistance Corporation (RCAC) to provide Section 502 direct loan application packaging training. The training is open to individuals working for housing nonprofits and public agencies who have at least one year of affordable housing loan origination and/or affordable housing counseling experience and are interested in packaging Rural Housing Service direct loan applications.
The following certified loan application packaging course will be offered by Neighborworks America: Monday, February 18 – Wednesday, February 20, 2018 in Cleveland, OH. The course number is LE210 and is called USDA Rural Development Section 502 Direct Loans: Affordable Rural Homeownership. For more details, visit: https://www.neighborworks.org/Training-Services/Training-Professional-Development/In-Person-Training/Cleveland-NeighborWorks-Training-Institute Completion of a three-day course is required for a loan application packaging certification and provides:
• A review of the Section 502 direct loan program and the regulations/laws that govern
the program. • A detailed discussion of the program’s application process and borrower/property
eligibility requirements.
• An examination of the Agency’s loan underwriting process which includes the use of payment
subsidies, and the roles and responsibilities of a certified loan application packager, their
qualified employer, an intermediary (as determined necessary by a RD State Director), and the
Agency staff. Course participants should take the corresponding test within 30 days of
completing the course.
Additional information regarding the certified packaging process and course requirements, can be found in Handbook-1-3550, Chapter 3 “Application Processing”, Attachment 3-A.