rural-development · Rural Housing Service · Rule · Published 2019-12-26 · Effective 2020-04-24 · 84 FR 70881
Document
Document number
2019-27504
Federal Register citation
84 FR 70881
CFR reference
7 CFR 3555
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2019-12-26
Effective date
2020-04-24
USDA docket
Docket No. RHS-18-SFH-0020
Abstract
The Rural Housing Service (RHS or Agency) published a proposed rule on August 23, 2018, proposing to implement changes to the single family housing guaranteed loan program (SFHGLP) regulation to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure; clarify that lenders must comply with applicable laws, including those within the purview of the Consumer Financial Protection Bureau (CFPB); and better align loss mitigation policies with the mortgage industry. Through this action, RHS finalizes the rule largely as proposed with some revisions.