USDA Final Rule: Single Family Housing Guaranteed Loan Program

December 26, 2019

The Rural Housing Service (RHS) published a final rule to streamline the loss claim process for lenders who have acquired title to property through voluntary liquidation or foreclosure; clarify that lenders must comply with applicable laws, including those within the purview of the Consumer Financial Protection Bureau (CFPB); and better align loss mitigation policies with the mortgage industry.  This final rule is effective April 24, 2020.

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