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USDA/RHS RIN: 0575-AD33 Publication ID: Fall 2023 
Title: 7 CFR 3550--Streamlining and Improvement of Single-Family Housing Direct Programs 

7 CFR part 3550 sets forth the requirements of the direct SFH programs, authorized by sections 502 and 504 of the Housing Act of 1949, as amended (42 U.S.C. 1472 and 1474). The section 502 direct loan program provides 100 percent loan financing to assist low- and very low-income applicants obtain modest housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. The section 504 loan program provides one percent interest rate loans to very low-income homeowners in eligible rural areas to repair, improve, or modernize their home or to remove health and safety hazards. The section 504 grant program provides grants to elderly very low-income homeowners in eligible rural areas to remove health and safety hazards, or accessibility barriers from their home, often in conjunction with a section 504 loan.

This proposed rulemaking is part of the SFH Program’s effort to improve customer service for its borrowers by: creating a more efficient application process; promote consistency between the direct and guaranteed SFH loan programs where feasible; and review current housing market conditions and mortgage loan practices.  The agency intends to review SFH Program procedures and regulations to potentially identify and revise unnecessary and outdated regulations, as well as simplify other policies and procedures that may impose burdensome requirements on borrowers and applicants.

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 U.S.C. 301    42 U.S.C. 1480   
Legal Deadline:  None
Action Date FR Cite
Proposed Rule  11/20/2023  88 FR 80641   
Comment Period End  01/19/2024 
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:
Sonya Evans
Finance and Loan Analyst, SFH
Department of Agriculture
Rural Housing Service
1400 Independence Avenue SW,
Washington, DC 20250
Phone:423 268-4333