[Federal Register Volume 81, Number 33 (Friday, February 19, 2016)]
[Rules and Regulations]
[Page 8389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-03289]



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  Federal Register / Vol. 81, No. 33 / Friday, February 19, 2016 / 
Rules and Regulations  

[[Page 8389]]



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; change in 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. On 
September 11, 2015, the final rule's effective date was further delayed 
until October 1, 2016. Given that Section 726 of the Consolidated 
Appropriations Act, 2016, requires RHS to establish a packaging program 
based on the pilot program, the final rule's effective date will be 
moved up to May 19, 2016.

DATES: The effective date of the final rule published April 29, 2015 
(80 FR 23673), delayed June 5, 2015 (80 FR 31971) and September 11, 
2015 (80 FR 54713), is now May 19, 2016.

FOR FURTHER INFORMATION CONTACT: Tammy Repine, Finance and Loan 
Analyst, Single Family Housing Direct Loan Division, USDA Rural 
Development, 3625 93rd Avenue SW., Olympia, Washington 98512, 
Telephone: 360-753-7677. Email: [email protected].

SUPPLEMENTARY INFORMATION: Once effective, all existing pilot 
intermediaries will be classified as Agency-approved intermediaries 
under the regulation for the states they covered under the pilot, and 
any subsequent state(s) they wish to cover. This classification is 
based on the fact that all of these pilot intermediaries applied under 
the ``Notice of Intent to Accept Applications To Be an Intermediary 
Under the Certified Loan Application Packaging Process Within the 
Section 502 Direct Single Family Housing Program'' (80 FR 32526) and 
demonstrated to the Agency's satisfaction that they meet all the 
requirements to be an intermediary. While the existing pilot 
intermediaries will not need to reapply, they must advise the Agency of 
new states they wish to cover.
    On or around the final rule's effective date, program guidance will 
be issued that expounds upon the implementation, conditions, and 
parameters of the certified loan application packaging process. Among 
others items, the guidance will outline how other interested parties 
can apply to be an intermediary.

    Dated: February 5, 2016.
Tony Hernandez,
Administrator, Rural Housing Service.
[FR Doc. 2016-03289 Filed 2-18-16; 8:45 am]
BILLING CODE 3410-XV-P