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WBK Industry News - Federal Regulatory Developments

Rural Housing Service Issues, Immediately Withdraws Final Rules

On March 29, 2016 the Rural Housing Service (RHS or Agency) amended their current regulation for the Single Family Housing Guaranteed Loan Program (SFHGLP) on the subjects of lender indemnification, refinancing, and qualified mortgage requirements. These amendments were to become effective on April 28, 2016.  However, in the March 31, 2016 issue of the Federal Register (81 FR 18456) the RHS published a correction withdrawing the final rule published in the March 29, 2016 issue of the Federal Register (81 FR 17361) that amended its Single Family Housing Guaranteed Loan Program regulations in 7 CFR Part 3555 relating to RHS qualified mortgages under §1026.43(e) of Regulation Z, lender indemnification and refinancing provisions.