The Farm Service Agency
(FSA) is proposing to amend the Farm
Loan Programs (FLP) direct loan
servicing regulations primarily to
implement provisions of the Food,
Conservation, and Energy Act of 2008
(the 2008 Farm Bill). FSA proposes four
amendments to the rules. The first
amendment would further emphasize
transitioning borrowers to private
sources of credit in the shortest
timeframe practicable. The second
amendment would amend the
Homestead Protection lease regulations
by extending the right to purchase the
leased property to the lessee’s
immediate family when the lessee is a
member of a socially disadvantaged
group. The third amendment would
amend the account liquidation
regulations to suspend certain loan
acceleration and foreclosure actions,
including suspending interest accrual
and offsets, if a borrower has filed a
claim of program discrimination that
has been accepted as valid by USDA
and is at the point of acceleration or
foreclosure. The fourth amendment
would amend the supervised bank
account regulations to be consistent
with the recently amended Federal
Deposit Insurance Act.
DATES: We will consider
Loan Servicing; Farm Loan Programs
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