rural-development · Rural Housing Service · Rule · Published 2011-05-31 · Effective 2011-08-01 · 76 FR 31217
Document
Document number
2011-13061
Federal Register citation
76 FR 31217
CFR reference
7 CFR 1980
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2011-05-31
Effective date
2011-08-01
Abstract
This final rule implements two changes in the regulations for the Rural Housing Service (RHS) Section 502 Single Family Housing Guaranteed Loan Program (SFHGLP) by eliminating the lender's published Department of Veterans Affairs (VA) rate for first mortgage loans with no discount points as an option for a maximum interest rate on loans and by allowing the Secretary to seek indemnification from the originating lender if a loss is paid under certain circumstances. This action is taken to achieve savings for the taxpayer, simplify regulations, and promote efficiency in managing the SFHGLP.