The reporting requirements contained in this regulation have been approved by the Office of Management and Budget (OMB) and have been assigned OMB control number 0575-0093.
Sec. Exhibit A to Subpart F of Part 1951 [Reserved] Sec. Exhibit B to Subpart F of Part 1951--Suggested Outline for Seeking
Information From Lenders on Credit Criteria for Graduation of Single
Family Housing Loans Date:___________________________________________________________________Name of Lender:_________________________________________________________Title:__________________________________________________________________Address:________________________________________________________________Name of County Supervisor:______________________________________________Service Area:___________________________________________________________
1. Is the lender interested in making loans to refinance rural housing borrowers? Yes:----; No:----.If later, when?_________________________________________________________
How much credit does the lender expect to have available in the next three to four months for making such loans? $------------
In the next twelve (12) months? $------------
2. What are the loan terms? ------------
3. What is the current interest rate? ------------ [squ] Variable rate. [squ] Fixed rate.
If variable, how is it determined? ------------
4. Is a risk differential used in establishing interest rates charged for new customers? Yes: ----; No: ----.If yes, explain:________________________________________________________
5. What can a typical loan applicant be expected to pay for: ------------------------------------------------------------------------
Dollars Or percent------------------------------------------------------------------------a. Filing an application................ .............. ..............b. Real estate appraisal................ .............. ..............c. Credit report........................ .............. ..............d. Loan orgination fee.................. .............. ..............e. Loan closing costs................... .............. ..............------------------------------------------------------------------------
6. Is mortgage guarantee insurance required? Yes: ----; No: ----. If yes, how many years? ----. Cost? ------------.
7. Is there a minimum or maximum loan size policy? Yes: ----; No: ----.If yes, explain:________________________________________________________
8. Is there a minimum and maximum home value the lender will loan on? Yes: ----; No: ----. If yes, minimum: $------------; maximum: $------------.
9. Does the lender use a loan to market value ratio? ------------
10. Is there a minimum net and gross income criteria? Yes: ----; No: ----. If yes, net: $------------; gross: $------------.
11. Does the lender use a minimum loan or home value to income ratio? Yes: ----; No: ----. If yes, loan to income ratio: ------------ Value to income ratio: ------------
12. Is there a percentage of gross income a typical applicant should have available to pay housing costs? ------------
a. To pay for principal, interest, taxes and insurance (PITI)? ----%.
b. To pay for the total housing costs and other credit obligations? ----%.
13. Are there any age of home, housing type, site size, and/or geographic restriction policies? Yes: ----; No: ----.If yes, List:___________________________________________________________
14. Other Comments:____________________________________________________
15. For the purpose of reducing the number of inappropriate referrals, would the lender like the opportunity to review specific borrower financial information prior to the borrower being asked to file a formal application? Yes: ----; No: ----. If the answer is yes, only those borrowers who are listed on Form FmHA or its successor agency under Public Law 103-354 1951-24 will be referred to the bank. The lenders should be advised, however, the information supplied to them will not include the borrower's name, social security number, exact address, or place of employment that could be used to link a specific borrower to the information being provided by FmHA or its successor agency under Public Law 103-354. [48 FR 40203, Sept. 6, 1983; 48 FR 41142, Sept. 14, 1983] Subparts G-N [Reserved] Subpart O_Servicing Cases Where Unauthorized Loan(s) or Other Financial
Assistance Was Received_Community and Insured Business Programs
Source: 71 FR 75852, Dec. 19, 2006, unless otherwise noted.