The U.S. Department of Agriculture (USDA) RD utilizes lender-placed insurance to protect the Government's loan portfolio assets. The USDA RD intends to continue lender-placed insurance through contractor provided services nationwide including U.S. Territories which include Puerto Rico and US Virgin Islands.The Government (USDA, Rural Development) provides loans to low and moderate income applicants located in rural geographic areas to assist them in obtaining single/guaranteed/multi-family housing through various programs. As of September 30, 2013, the Government had approximately 319,000 Direct Single Family Housing loans that represent just over 286,000 borrowers. Section 502 Direct loans are generally secured by first mortgages on modest dwellings located on non-farm tracts of one acre or less. The Single Family Housing Direct loans are located in each of the 50 states and U.S. territories that include Puerto Rico, and the US Virgin Islands. Approximately 8,000 new single family loans are originated per year. Rural Development (RD) currently processes all loan originations through state offices and approximately 700 field offices. The Centralized Servicing Center (CSC), located in St. Louis, Missouri provides support to the field offices for loan originations and is responsible for most servicing functions. Currently the Single Family Direct loan program is approximately ninety-two (92) percent escrow and the Hazard and Flood Compliance Section tracks one hundred (100) percent of the customers that are required to maintain a homeowner's, windstorm or flood insurance policy. (If re-categorization of types of coverage is brought on due to insurance company realignment of lines of business, our needs shall change in accordance with the change).
As of September, 1, 2013, RD had 14,971 Multi-Family Housing (MFH) projects with total units encompassing approximately 436,000 and total loans of 24,934. Currently these loans are not escrowed. RD Multi-Family Housing programs provide a number of finance options to developers of low-income community housing.

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