Rural Utilities Service April 8, 2020 – Federal Register Recent Federal Regulation Documents

Rural Development Guarantee Loan Servicing Flexibilities To Address Coronavirus 2019 Impacts
Document Number: 2020-07487
Type: Rule
Date: 2020-04-08
Agency: Department of Agriculture, Rural Business-Cooperative Service, Rural Housing Service, Rural Utilities Service
The Rural-Business Cooperative Service (RBCS), Rural Housing Service (RHS), and Rural Utilities Service (RUS) agencies of the Rural Development mission area, hereinafter referred to as Agency, issued a notification in the Federal Register on March 31, 2020, that allows lenders with guaranteed loans with the Agency to unilaterally offer payment deferrals for the period specified in the notice to their customers who may be experiencing temporary cash flow issues due to the Coronavirus (COVID-19) pandemic. This notification supplements the prior notification and includes additional servicing flexibilities regarding Agency guaranteed loan requirements as they relate to the new loans that are covered by Section 1102 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.