USDA HB-1-3555, Chapter 9 (Income Analysis), § 9.4
USDA Handbook HB-1-3555 section 9.4. Full verbatim section text, substring-verified against snapshot f7ae1465abd3b32b.
Verbatim regulatory text
Verbatim provisions from USDA HB-1-3555, Chapter 9 (Income Analysis), § 9.4 — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
USDA HB-1-3555, Chapter 9 (Income Analysis), § 9.4
CALCULATING INCOME FROM ASSETS [7 CFR 3555.152(d)] Household members with cumulative net family assets (non-retirement) of $50,000 or greater, must have those assets reviewed for annual income purposes, as indicated in 7 CFR 3555.152(d). Lenders must review the most recent asset information provided by applicants and household members at the time of loan application. Net family assets with actual earnings will use the stated rate of interest to calculate annual income. Net family assets that do not earn interest will use a current passbook savings rate (verified through the lender’s personal banking rates, online website, etc.) to calculate annual income. If the applicants have ownership in a business, or are self-employed, the lender should closely review the asset accounts to verify assets are not transferred between a personal account and a business account and vice versa. These accounts should function as two separate financial tools, one for personal transactions and one for business transactions. In the event the assets from the business account and personal account are co-mingled, the co-mingled assets would need to be included in the calculation of net family assets. Refer to the Asset section in Attachment 9-A for individual asset types and options for documentation/verification. Paragraph 9.5 Adjusted Annual Income
Operationalizing USDA HB-1-3555, Chapter 9 (Income Analysis), § 9.4
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Source of record: https://claudeforcompliance.com/regs/usda-hb-3555-9-4/
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