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USDA/RHS RIN: 0575-AD08 Publication ID: Fall 2021 
Title: Single Family Housing Guaranteed Rural Housing Programs--Delegated Approval Authority and Strengthening Management Oversight 

The Rural Housing Service is proposing to amend its current regulation to delegate loan approval authority to preferred lenders, i.e., those whose loans have performed well and demonstrated strong underwriting capability, to benefit the program and its stakeholders.  Preferred lenders would be responsible for certifying that both the applicant and property meet all program eligibility and underwriting requirements and thus are eligible for the guarantee without the prior review by agency staff which takes place today. This change will speed up approval processing times, benefiting applicants, preferred lenders, and the Agency. The change to delegated authority may alter the risk management dynamics of the program, and with the proposed rule the agency should be able to proceed in a manner that assures its risk profile for the program would not increase.

Agency: Department of Agriculture(USDA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 7 CFR 3555.51    7 CFR 3555.55   
Legal Authority: 42 U.S.C. 1487, Rural Housing Insurance Fund   
Legal Deadline:  None
Action Date FR Cite
Proposed Rule  06/00/2022 
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:
Kate Jensen
Department of Agriculture
Rural Housing Service
1400 Independence Avenue SW,
Washington, DC 20250
Phone:503 894-2382