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<REGINFO_RIN_DATA xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" RUN_DATE="2026-06-09-04:00" xsi:noNamespaceSchemaLocation="https://www.reginfo.gov/public/xml/REGINFO_XML_Ver10262011.xsd">
    <RIN_INFO>
        <RIN>0570-AA81</RIN>
        <PUBLICATION>
            <PUBLICATION_ID>201104</PUBLICATION_ID>
            <PUBLICATION_TITLE>Unified Agenda of Federal Regulatory and Deregulatory Actions</PUBLICATION_TITLE>
        </PUBLICATION>
        <AGENCY>
            <CODE>0570</CODE>
            <NAME>Rural Business-Cooperative Service</NAME>
            <ACRONYM>RBS</ACRONYM>
        </AGENCY>
        <PARENT_AGENCY>
            <CODE>0500</CODE>
            <NAME>Department of Agriculture</NAME>
            <ACRONYM>USDA</ACRONYM>
        </PARENT_AGENCY>
        <RULE_TITLE>Business and Industry Guaranteed Loan Program--Conditions of Guarantee</RULE_TITLE>
        <ABSTRACT><![CDATA[Section 4279.72(a) provides the conditions under which a guarantee is not enforceable, four such conditions are listed: (1) cases of fraud or misrepresentation, (2) loss occasioned by a provision for interest on interest, (3) loss occasioned by a violation of usury laws, negligent servicing, or failure to obtain required security, and (4) loan funds being used for purposes other than those specifically approved by the Agency.  

Section 4279.72(b) discusses the rights and liabilities of a lender when a guaranteed portion of a loan is sold to a holder.  Under section 4279.72(b) one condition is listed where the lender will be liable for payments made by the Agency to any holder: cases of material fraud, negligence, or misrepresentation.  Section 4279.72(b) remains silent on the other three conditions listed in section 4279.72(a), resulting in insufficient reimbursement rights for the Agency when the loan has been sold to a holder as well as undue coverage for the lender.

The Agency believes reimbursement rights should be consistent, regardless of whether the lender retained the entire interest in the loan or conveyed an interest to a holder.  Therefore, the Agency intends to publish a Direct Final Rule and Proposed Rule to revise 7 CFR 4279, subpart A.]]></ABSTRACT>
        <PRIORITY_CATEGORY>Substantive, Nonsignificant</PRIORITY_CATEGORY>
        <RIN_STATUS>First Time Published in The Unified Agenda</RIN_STATUS>
        <RULE_STAGE>Proposed Rule Stage</RULE_STAGE>
        <MAJOR>No</MAJOR>
        <UNFUNDED_MANDATE_LIST>
            <UNFUNDED_MANDATE>No</UNFUNDED_MANDATE>
        </UNFUNDED_MANDATE_LIST>
        <CFR_LIST>
            <CFR>7 CFR 4279-A</CFR>
        </CFR_LIST>
        <LEGAL_AUTHORITY_LIST>
            <LEGAL_AUTHORITY>5 USC 301</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>7 USC 1932</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>7 USC 1989</LEGAL_AUTHORITY>
        </LEGAL_AUTHORITY_LIST>
        <LEGAL_DLINE_LIST/>
        <RPLAN_ENTRY>No</RPLAN_ENTRY>
        <TIMETABLE_LIST>
            <TIMETABLE>
                <TTBL_ACTION>NPRM</TTBL_ACTION>
                <TTBL_DATE>09/00/2011</TTBL_DATE>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>NPRM Comment Period End</TTBL_ACTION>
                <TTBL_DATE>11/00/2011</TTBL_DATE>
            </TIMETABLE>
        </TIMETABLE_LIST>
        <RFA_REQUIRED>No</RFA_REQUIRED>
        <GOVT_LEVEL_LIST>
            <GOVT_LEVEL>None</GOVT_LEVEL>
        </GOVT_LEVEL_LIST>
        <FEDERALISM>No</FEDERALISM>
        <ENERGY_AFFECTED>No</ENERGY_AFFECTED>
        <PRINT_PAPER>No</PRINT_PAPER>
        <INTERNATIONAL_INTEREST>No</INTERNATIONAL_INTEREST>
        <AGENCY_CONTACT_LIST>
            <CONTACT>
                <FIRST_NAME>Lisa</FIRST_NAME>
                <LAST_NAME>Siesennop</LAST_NAME>
                <TITLE>Loan Specialist</TITLE>
                <AGENCY>
                    <CODE>0570</CODE>
                    <NAME>Rural Business-Cooperative Service</NAME>
                    <ACRONYM>RBS</ACRONYM>
                </AGENCY>
                <PHONE>202 720-6003</PHONE>
                <EMAIL>Lisa.siesennop@wdc.usda.gov</EMAIL>
                <MAILING_ADDRESS>
                    <STREET_ADDRESS>1400 Independence Avenue, SW, STOP 3224, Room 6858,</STREET_ADDRESS>
                    <CITY>Washington</CITY>
                    <STATE>DC</STATE>
                    <ZIP>20250</ZIP>
                </MAILING_ADDRESS>
            </CONTACT>
        </AGENCY_CONTACT_LIST>
    </RIN_INFO>
</REGINFO_RIN_DATA>
