Revisions to the Direct Operating (OL), Farm Ownership (FO), Soil and Water (SW) and Emergency (EM) Loan Regulations To Modify Collateral Requirements

概要

The Farmers Home Administration (FmHA) amends its direct operating (OL), farm ownership (FO), soil and water (SW) and emergency (EM) loan making and servicing regulations to modify collateral requirements. These amendments concern the amount of collateral required when an FmHA loan is made. There will be no change in security requirements for loan restructuring. The intended effect is to reduce the burden on farmers and FmHA personnel in servicing FmHA loan collateral and to avoid encumbering all of a farmer's collateral, thereby making it less difficult for farmers who receive FmHA loans to subsequently obtain non-FmHA credit.