Notes to SEFA
Title: Loan/loan guarantee outstanding balances.
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects - (Assistance Listing No. 14.155). The balance of the mortgage payable at January 16, 2023, under Section 207 pursuant to Section 223(f) of the National Housing Act, as amended, is $1,435,169.