Farm Service Agency October 2016 – Federal Register Recent Federal Regulation Documents

EZ Guarantee Program and Micro Lender Program (MLP) Status
Document Number: 2016-25492
Type: Rule
Date: 2016-10-21
Agency: Department of Agriculture, Farm Service Agency
The Farm Service Agency (FSA) is amending the guaranteed Farm Loan Programs (FLP) regulations to implement an EZ Guarantee Program and establish an additional lender status. The EZ Guarantee Program will help lenders reduce costs of underwriting and servicing loans to help meet the unique financing needs of small farm operations. The intended effects of the rule are to make guaranteed loan programs more widely available and attractive to small farm operations and the lenders who work with those farm operations through a more flexible underwriting analysis process, reduced application requirements, and faster FSA approval. In addition, FSA is amending the regulations to make a technical correction related to chattel appraisal appeals related to both guaranteed and direct loans.