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14.2 PROGRAM FUNDING PROCESS
Funds are allocated and distributed to the Agency by the budget staff at the beginning of each fiscal year through the Single Family Housing Guaranteed Loan Program (SFHGLP). The State accounts will receive funds proportionate to the percentage of prior year’s actual obligations. Additionally, a portion of the funds will be held in the National Office reserve to support State accounts that may require a higher allocation compared to the previous year. This measure aims to guarantee adequate funding for the SFHGLP across all State accounts, based on the allocated funds approved by the Budget Office.
The National Office will keep lenders and Agency staff apprised of the potential for a shortage of available funds with an advance notice.