September 11, 2018

from USDA Rural Development SFHGLP

On August 23, 2018, a Proposed Rule was published in the Federal Register seeking comments on proposed changes 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; and better align loss mitigation policies with those in the mortgage industry. Instructions for providing comments are included in the Federal Register Notice. [Note that written or email comments on the proposed rule must be received on or before October 22, 2018 to be assured for consideration.]

Questions regarding this announcement may be directed to Single Family Housing Guaranteed Loan Program in the Rural Housing National Office at 202-720-1452.

September e-Update