[Federal Register Volume 59, Number 211 (Wednesday, November 2, 1994)]
[Rules and Regulations]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27092]
[[Page Unknown]]
[Federal Register: November 2, 1994]
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DEPARTMENT OF AGRICULTURE
7 CFR Part 1951
Servicing and Collections
AGENCY: Farmers Home Administration, USDA.
ACTION: Final rule.
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SUMMARY: The Farmers Home Administration (FmHA) amends its regulation
regarding processing payments under the Predetermined Amortization
Schedule System (PASS). This action is taken to change the distribution
of Form FmHA 1944-9A, Multiple Family Housing Statement of Payment Due.
The intended effect is to only distribute the form to those borrowers
that are delinquent and/or have late fees.
EFFECTIVE DATE: November 2, 1994.
FOR FURTHER INFORMATION CONTACT:
Christine Mechtly, Staff Accountant, Quality Assurance Branch, FmHA,
USDA, Finance Office, 1520 Market Street, St. Louis, Missouri 63103,
Telephone 314-539-6203.
SUPPLEMENTARY INFORMATION: This final rule has been determined to be
exempt from the requirements of Executive Order 12866 because it has no
adverse impact on FmHA borrowers or other members of the public and it
involves only internal Agency management. It is the policy of this
Department that rules relating to public property, loans, grants,
benefits, or contracts shall be published for comments notwithstanding
the exemption in 5 U.S.C. 533 with respect to such rules. This action,
however, is not published for proposed rulemaking since it involves
only internal Agency management and publication for comment is
unnecessary.
Environmental Impact Statement
This document has been reviewed according to 7 CFR, Part 1940,
Subpart G, ``Environmental program.'' It is the determination of FmHA
that the proposed action consisting only of accounting changes, does
not constitute a major Federal Action significantly affecting the
quality of the human environment and according to the National
Environmental Policy Act of 1969, Public Law 91-190, an Environmental
Impact Statement is not required.
Intergovernmental Review
This program/activity is subject to the provisions of Executive
Order 12372 which requires intergovernmental consultation with State
and local officials.
These changes affect the following FmHA program as listed in the
Catalog of Federal Domestic Assistance under number:
10.415 Rural Rental Housing Loans
Discussion
Section 1951.506 is being amended to change the distribution of
Form FmHA 1944-9A to only those borrowers who are delinquent and/or
have late fees. This change in the distribution was requested by FmHA
field office personnel in order to save FmHA money.
List of Subjects in 7 CFR Part 1951
Account servicing, Accounting, Loan programs--Agriculture, Loan
programs--Housing and community development, Low and moderate income
housing loans--Servicing, Mortgages.
Accordingly, chapter XVIII, title 7, Code of Federal Regulations is
amended as follows:
PART 1951--SERVICING AND COLLECTIONS
1. The authority citation for part 1951 continues to read as
follows:
Authority: 7 U.S.C. 1989; 42 U.S.C. 1480; 5 U.S.C. 301; 7 CFR
2.23; 7 CFR 2.70.
Subpart K--Predetermined Amortization Schedule System (PASS)
Account Servicing
2. Section 1951.506 is amended by revising paragraphs (a) (3) and
(4) to read as follows:
Sec. 1951.506 Processing Payments
(a) * * *
(3) On or about the 11th day of each month, the Finance Office will
generate and mail to each borrower that is delinquent and/or has late
fees, Form FmHA 1944-9A, ``Multiple Family Housing Statement of Payment
Due,'' showing the current monthly payment due, unpaid late fees, and
delinquent payments, if any, due on the first day of the following
month. This payment statement will be determined from current Finance
Office records but will not reflect overage or occupancy surcharge due
from the borrower or rental assistance (RA) due the borrower.
(4) Each borrower will submit to the District Office Form FmHA
1944-29 with the required monthly payment indicated or adjusted as
indicated in paragraph (a)(5) of this section regardless of whether or
not Form FmHA 1944-9A is received.
* * * * *
Dated: October 3, 1994.
Bob J. Nash,
Under Secretary for Small Community and Rural Development.
[FR Doc. 94-27092 Filed 11-1-94; 8:45 am]
BILLING CODE 3410-07-M
