Future Recovery of Losses Paid on Liquidated Guaranteed Loans
other · Rural Housing Service · Rule · Published 1996-08-21 · Effective 1996-09-20 · 61 FR 43147
Document
Document number
96-21236
Federal Register citation
61 FR 43147
CFR reference
7 CFR 1980
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Rural Housing Service
Publication date
1996-08-21
Effective date
1996-09-20
Abstract
The Agency is amending its guaranteed farm credit program regulations to establish new policies and procedures on the release of guaranteed loan borrowers and cosigners from liability. This action will define guaranteed lenders' release authorities and standardize procedures for reporting post loss claim collection results to the Agency. The intended effect is to maximize collections from unsatisfied guaranteed accounts and to minimize the financial loss to the Government.