Effective May 19, 2016, USDA implemented the Certified Loan Application Process for the Section 502 Direct Single Family Housing Program.
Under the Certified Loan Application Process, a certified loan application packager will submit applications to USDA through an Intermediary. The approved intermediaries in North Carolina are as follows:
Wilson Community Improvement Association (WCIA)
http://www.wciainc.org/
Contact: Barbara Blackston
252-243-4855
Federation of Appalachian Housing Enterprises, Inc. (FAHE)
http://fahe.org/
Contact: Laura Meadows
859-986-0677 Ext. 2113
The intermediaries’ role is to conduct quality assurance reviews on the loan application packages, provide training, technical assistance and support to the certified loan packagers as well as outreach for additional loan packagers within their state coverage area.
As part of the certified packaging process, Rural Development (RD) partners with the Housing Assistance Council, NeighborWorks, and the Rural Community Assistance Corporation to provide Section 502 direct loan application packaging course.
This three-day course 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.
This course is targeted to individuals working for housing nonprofits and public agencies that are interested in packaging direct loan applications and who have at least one year of affordable housing loan origination and/or affordable housing counseling experience.
Since 2009, USDA Rural Development (#USDARD ) has invested $11 billion to start or expand 103,000 rural businesses; helped 1.1 million rural residents buy homes; funded nearly 7,000 community facilities such as schools, public safety and health care facilities; financed 185,000 miles of electric transmission and distribution lines; and helped bring high-speed Internet access to nearly 6 million rural residents and businesses. For more information, visit www.usda.gov/results.
USDA Rural Development has 6 Area Offices and 14 field offices across the state serving North Carolinians living in rural areas and communities. Area Office locations are in Asheville, Shelby, Lumberton, Asheboro, Henderson and Kinston. Further information on rural programs is available at a local USDA Rural Development office www.rd.usda.gov/nc.