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USDA/RHS RIN: 0575-AC81 Publication ID: Spring 2010 
Title: Recapture of Total Subsidy 
Abstract: Recovery of some or the entire payment subsidy provided to direct single-family housing borrowers, or "recapture," is provided for by statute in 42 U.S.C. 1490a (a)(l)(D). The statute gives the Secretary broad discretion in the determining the amount of the subsidy recapture. Borrowers with loans approved or assumed on or after October 1, 1979, are required to repay subsidy amounts received through payment subsidy or deferred mortgage assistance. Amounts to be recaptured are due and payable when the borrower transfers title or ceases to occupy the property. The Agency proposes to revise 7 CFR 3550.162 by reinstating language that allows for full repayment of the entire subsidy in the event of foreclosure or voluntary conveyance as was originally provided for in the first recapture regulation promulgated on October 1, 1979. This language was inadvertently omitted when regulations were revised on November 22, 1996. 
Agency: Department of Agriculture(USDA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 7 CFR 3550 
Legal Authority: 5 USC 301; 42 USC 1480 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  06/00/2010   
NPRM Comment Period End  08/00/2010   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michael S Feinberg
Branch Chief, Loan Origination Branch
Department of Agriculture
Rural Housing Service
Stop 0783, STOP 0783, 1400 Independence Avenue SW,
Washington, DC 20250-0783
Phone:202 720-1474
Fax:202 720-2232
Email: michael.feinberg@wdc.usda.gov

 
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