[Federal Register Volume 64, Number 86 (Wednesday, May 5, 1999)]
[Notices]
[Page 24132]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11228]


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DEPARTMENT OF AGRICULTURE

Farm Service Agency


Notice of Eligibility Criteria for Preferred Lenders

AGENCY: Farm Service Agency, USDA.

ACTION: Notice of Eligibility Criteria.

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SUMMARY: This notice revises the volume requirements necessary for 
lenders to be eligible for the Farm Service Agency's Preferred Lender 
Program (PLP).

EFFECTIVE DATE: May 5, 1999.

FOR FURTHER INFORMATION CONTACT: Galen VanVleet, Senior Loan Officer, 
Farm Service Agency, Farm Loan Programs Loan Making Division, 1400 
Independence Avenue, SW, STOP 0522, Washington, DC 20250-0522, 
telephone (202)720-1638; email GalenVanV[email protected].

SUPPLEMENTARY INFORMATION:

Programs Affected

10.406  Farm Operating Loans
10.407  Farm Ownership Loans

Background

    The PLP provides qualifying lenders additional authorities and 
streamlined procedures under the Agency's guaranteed farm loan program. 
To qualify for PLP status, lenders must meet the eligibility criteria 
of 7 CFR 762.106(b) and (c). Paragraph (c)(3) of this section requires 
lenders to have closed a minimum number of Agency guaranteed farm 
loans. With this notice, the Agency is setting the minimum number of 
loans a lender must have closed in the past 5 years to qualify for PLP 
status at 20. This is a reduction from the current 30 loans in the past 
3 years established by the Notice of Eligibility Criteria published in 
the Federal Register on February 12, 1999 (64 FR 7404).

    Signed at Washington, DC, on April 28, 1999.
Keith Kelly,
Administrator,
Farm Service Agency.
[FR Doc. 99-11228 Filed 5-4-99; 8:45 am]
BILLING CODE 3410-05-P