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USDA/RBS

RIN: 0570-AA70

Publication ID: Spring 2009

Title: Intermediary Relending Program--Clarification--Inconsistencies in Processing and Servicing Requirements
Abstract: A recent Management Control Review of the program identified contradictions between the processing and servicing regulations. The Agency is correcting inconsistencies regarding eligible and ineligible loan purposes; ineligible borrowers; and the definition of rural area. Clarifications are being made to setting the level of ultimate recipient loan assistance and establishing when debt refinancing should be considered. References to churches are deleted, which precluded charitable and faith-based institutions from participating in the program, in order to align with current Department policies. Annual reports on the extent to which increased employment, income and ownership opportunities are provided to low-income persons, farm families, and displaced farm families for each loan made by an intermediary will be required.
Agency: Department of Agriculture(USDA)	Priority: Substantive, Nonsignificant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Completed Actions
Major: No	Unfunded Mandates: No
CFR Citation: 7 CFR 1951-R 7 CFR 4274-D (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 42 USC 9821(a)

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Direct Final Action	09/19/2008	73 FR 54306

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Lori Pittman Business Loan and Grant Analyst, Program Management Division Department of Agriculture Rural Business-Cooperative Service STOP 3225, 1400 Independence Avenue SW, Washington, DC 20250-3225 Phone:202 720-9815 Fax:202 720-2213 Email: lori.pittman@usda.gov