U. S. Department of Housing and Urban Development
                           Washington, D.C. 20410-8000
                               August 10, 1992

OFFICE OF THE ASSISTANT SECRETARY
FOR HOUSING-FEDERAL HOUSING COMMISSIONER                     TI-418

       MEMORANDUM FOR:  ALL TITLE I LENDING INSTITUTIONS
       SUBJECT:   Change of Notification of Annual Recertification
                  Procedures
 
            Currently, all Title I lenders are notified at the same time
       that the annual fee is due and if appropriate, to amend the
       yearly verification report.  Effective August 10, 1992, the
       Department will change the procedure.  All lenders will be
       required to respond to the yearly verification report and remit
       the annual fee based upon the month your company's fiscal year
       ends.  The audited financial statement will continue to be due
       within 90 days of the close of the fiscal year for all
       non-supervised lenders and loan correspondents.
 
            If you have any questions about this letter, please write to
       the Lender Approval and Recertification Division, Room 9146,
       451-7th Street, S.W., Washington, D.C. 20410-8888, or call
       Patricia Gross at 202-708-3976.
 
                                       Sincerely yours,
 
                                       Arthur J. Hill
                                       Assistant Secretary for
                                       Housing-Federal Housing Commissioner
 
                    *U.S. Government Printing Office: 1992 - 312-218/60236