Amendment allows the USDA to assess a nominal fee (maximum of $50) per loan under the Section 502 single family guaranteed home loan program in order to fund needed technological improvements and investments into the guaranteed underwriting system.

1. Adds SEC. 202. GUARANTEED UNDERWRITING USER FEE on page 55, line 24

   Adds a sectionPrinted page

   Inserted: SEC. 202. GUARANTEED UNDERWRITING USER FEE.

   Inserted: Section 502 of the Housing Act of 1949 (42 U.S.C. 1472) is amended by adding at the end the following new subsection:

   Inserted: "(i) Guaranteed Underwriting User Fee.--

   Inserted: "(1) Authority; maximum amount.--The Secretary may assess and collect a fee for a lender to access the automated underwriting systems of the Department in connection with such lender's participation in the single family loan program under this section and only in an amount necessary to cover the costs of information technology enhancements, improvements, maintenance, and development for automated underwriting systems used in connection with the single family loan program under this section, except that such fee shall not exceed $50 per loan.

   Inserted: "(2) Crediting; availability.--Any amounts collected from such fees shall be credited to the Rural Development Expense Account as offsetting collections and shall remain available until expended, in the amounts provided in appropriation Acts, solely for expenses described in paragraph (1).".

   Original wording

   Page 55, after line 24, insert the following new section:

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As printed