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USDA-RD published their FY 2012 NOFA for loan guarantees under the Section 538 Guaranteed Rural Rental Housing Program (GRRHP). The NOFA contains information about funding distribution and application instructions.
A copy of the NOFA may be found here: http://www.gpo.gov/fdsys/pkg/FR-2012-02-06/pdf/2012-2539.pdf