Truth in Lending-Real Estate Settlement Procedures
The Rural Housing Service (RHS or Agency) will obsolete (and reserve) the Truth in LendingReal Estate Settlement Procedures regulation to ensure compliance with the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) Integrated Mortgage Disclosures rule, commonly referred to as the TRID rule. This direct final rule will eliminate the functionally obsolete regulation in order to ensure compliance with the TRID rule, as the standard to follow.
Revision of Delegation of Authority for the State Executive Director (SED) for the Farm Loan Programs
This document amends the delegations of authority from the Farm Service Agency (FSA) Deputy Administrator of Farm Loan Programs (FLP). The change will specify that the Deputy Administrator redelegates certain authority to the State Executive Directors (SED). The change will also specify that SEDs may redelegate the authority to a Farm Loan Chief, Farm Loan Specialist, District Director, Farm Loan Manager, Senior Farm Loan Officer, Farm Loan Officer, Loan Analyst, Loan Resolution Specialist, or Program Technician to perform loan activities. This will ensure that certain loan documents can be signed off locally instead of requiring the FLP Deputy Administrator to have to sign off on certain loan documents.
Notice of Funds Availability (NOFA); Cotton Ginning Cost-Share Program (CGCS) Payments to Cotton Producers
This NOFA announces the availability of cost-share funds to certain cotton producers of the United States, specifically for the 2016 cotton crop. Eligible CGCS participants will receive a one-time payment, calculated based on a cost-share not to exceed 20 percent of calculated ginning costs by region, the number of cotton acres that were planted, including failed acreage, for the 2016 crop year, and the percentage of share the participant had in such cotton. Similar to other Commodity Credit Corporation (CCC) programs, certain eligibility requirements apply, such as a $40,000 per individual or entity payment limit and a requirement that each participant's 3-year average adjusted gross income (AGI) be $900,000 or less. CGCS payments will be made to help the domestic cotton industry find new and improved ways to market cotton.