Notification of Direct Loan Payment Deferrals for the Community Facilities Direct Loan Program
rural-development · Rural Housing Service · Rule · Published 2020-04-21 · Effective 2020-04-21 · 85 FR 22009
Document
Document number
2020-08429
Federal Register citation
85 FR 22009
CFR reference
7 CFR 1951
Type
Rule
Action
Temporary policy.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2020-04-21
Effective date
2020-04-21
USDA docket
Docket No. RHS-20-CF-0011
Abstract
The Rural Housing Service, hereinafter referred to as the Agency, will temporarily allow borrowers with direct loans within the Community Facilities (CF) Program to request payment deferrals during the period specified in the DATES section of this notification. This temporary authorization applies to CF direct loan borrowers who are experiencing temporary cash flow issues due to the Coronavirus (COVID- 19) pandemic. The Agency will provide the option of principal and interest payment deferrals to borrowers impacted by COVID-19 for up to one year due to hardship on a case-by-case basis.