[Federal Register Volume 80, Number 176 (Friday, September 11, 2015)]
[Rules and Regulations]
[Page 54713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-22785]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service

7 CFR Part 3550

RIN 0575-AC88


Single Family Housing Direct Loan Program

AGENCY: Rural Housing Service, USDA.

ACTION: Final rule; delay of effective date.

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SUMMARY: On April 29, 2015, the Rural Housing Service (RHS) published a 
final rule to create a certified loan application packaging process for 
the direct single family housing loan program. On June 5, 2015, the 
final rule's effective date was deferred to October 1, 2015. The final 
rule's effective date is further delayed until October 1, 2016.

DATES: Effective Date: The effective date of the final rule published 
April 29, 2015 (80 FR 23673), effective July 28, 2015, and delayed on 
June 5, 2015 (80 FR 31971), is further delayed until October 1, 2016. 
RHS will publish in the Federal Register another document changing the 
effective date if and when appropriations mandates impacting Fiscal 
Year 2016 do not reference the packaging pilot program.

FOR FURTHER INFORMATION CONTACT: Brooke Baumann, Branch Chief, Single 
Family Housing Direct Loan Division, USDA Rural Development, Stop 0783, 
1400 Independence Avenue SW., Washington, DC 20250-0783, Telephone: 
202-690-4250. Email: [email protected].

SUPPLEMENTARY INFORMATION: Section 729 of the Consolidated and Further 
Continuing Appropriations Act, 2015 (Act) (Pub. L. 113-235) provides 
that the Agency will continue agreements with the current 
intermediaries in the pilot program and enter into additional 
agreements that increase the number of pilot intermediaries to at least 
10. This appropriations mandate, which applies to the packaging pilot 
program in Fiscal Year 2015, prompted the Agency to defer the effective 
date of the final rule from July 28, 2015, to October 1, 2015, to allow 
the existing intermediaries under the pilot sufficient time to process 
loan application packages in their queue and to prepare for the 
implementation of the final rule.
    Since Section 729 will remain in effect during any continuing 
resolution passed to continue program operations in Fiscal Year 2016 
and given that similar mandatory language regarding the packaging pilot 
program is currently found in the Fiscal Year 2016 appropriations bills 
passed by the House and the Senate, the final rule to create a 
certified loan application packaging process will be deferred again. In 
an abundance of caution, the Agency takes this action to avoid the 
possibility of duplicative and inconsistent policies for this important 
certified loan application packaging process.
    In the interim, existing pilot intermediaries will be contacted 
directly concerning extensions of their agreements. In addition, 
applications received from potential intermediaries under the final 
rule, which were due by July 9, 2015, will now be considered for 
inclusion in any Fiscal Year 2016 packaging pilot program.

    Dated: August 31, 2015.
Tony Hernandez,
Administrator, Rural Housing Service.
[FR Doc. 2015-22785 Filed 9-10-15; 8:45 am]
BILLING CODE 3410-XV-P