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|USDA/RHS||RIN: 0575-AD17||Publication ID: Fall 2021|
|Title: Changes Related to Rental Assistance and Asset Management of MFH Direct Loan Programs|
The Rural Housing Service (RHS) published a proposed rule which proposed changes in order to: 1) implement programmatic changes related to development of a sustainability plan” for the Rental Assistance (RA) Program, including new Agency flexibilities in managing the RA distribution; 2) integrate new asset management policies; and 3) incorporate technical corrections to clarify reference and formatting issues in the regulation. The changes are designed to provide flexibility, more economically utilize the RA, and to improve the efficiency in managing the assets in the Direct Loan portfolio. The programs covered by this part are authorized by title V of the Housing Act of 1949, as amended.
Implementing the changes may add to the foundation of the Rental Assistance (RA) sustainability plan, which is intended to ensure that RA is used efficiently and effectively, while maintaining a reasonable federal budget level. The technical corrections will make the regulation easier to use, improve communication with borrowers, and lead to more efficient property operations. The effective use of RA subsidy in MFH properties helps to sustain rural communities; and to expand opportunities for rural and historically underserved people and communities.
The RHS expects that the asset management changes will result in a stronger, and more resilient, portfolio of properties, improved oversight of critical areas of fiduciary responsibility for the agency and will reduce portfolio financial risk. These changes are intended to increase program and decision-making transparency for the public.
|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 3560|
|Legal Authority: 42 U.S.C. 1480|
|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|
Department of Agriculture
Rural Housing Service
1400 Independence Avenue SW,
Washington, DC 20250