EZ Guarantee Program and Micro Lender Program (MLP) Status
farm-program · Farm Service Agency · Rule · Published 2016-10-21 · Effective 2016-10-21 · 81 FR 72686
Document
Document number
2016-25492
Federal Register citation
81 FR 72686
CFR reference
7 CFR 761
Type
Rule
Action
Final rule.
Category
farm-program
Sub-agency
Farm Service Agency
Publication date
2016-10-21
Effective date
2016-10-21
Abstract
The Farm Service Agency (FSA) is amending the guaranteed Farm Loan Programs (FLP) regulations to implement an EZ Guarantee Program and establish an additional lender status. The EZ Guarantee Program will help lenders reduce costs of underwriting and servicing loans to help meet the unique financing needs of small farm operations. The intended effects of the rule are to make guaranteed loan programs more widely available and attractive to small farm operations and the lenders who work with those farm operations through a more flexible underwriting analysis process, reduced application requirements, and faster FSA approval. In addition, FSA is amending the regulations to make a technical correction related to chattel appraisal appeals related to both guaranteed and direct loans.