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USDA/RHS RIN: 0575-AD04 Publication ID: Spring 2016 
Title: Amendment To Liquidation Value Appraisals 
Abstract:

The rule will allow lenders to order the liquidation value appraisal instead of the Agency in order to reduce overall processing time, reduce cost, and expedite claim submission.  This amendment allows the servicing lender to order the liquidation value appraisal, thus reducing the claim process by an average of 41 days.  The amount associated with obtaining the liquidation value appraisal can then be included in the liquidation costs paid under the guarantee.

 
Agency: Department of Agriculture(USDA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 7 CFR 3555   
Legal Authority: The Housing Act of 1949, as amended. [Pub. L. 171, 81st Cong., 63 Stat. 432    42 U.S.C. 1471 et. seq.]   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Proposed Rule  10/06/2015  80 FR 60298   
Proposed Rule Comment Period End  12/07/2015 
Final Rule  06/00/2016 
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:
Lilian Lipton
Loan Specialist
Department of Agriculture
Rural Housing Service
1400 Independence Avenue SW., STOP 0784,
Washington, DC 20250
Phone:202 260-8012
Fax:202 205-2476
Email: lilian.lipton@wdc.usda.gov