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Washington, Tuesday, January J, 1957
TITLE 6 AGRICULTURAL CREDIT th at the loan will be closed in accordance
with instructions from the Attorney in Chapter III Farmers Home Adminis Charge.
3 A loan docket, including an option tration, Department of Agriculture from the old borrower, will be prepared Subchapter E Account Servicing for the new borrower as in the case of an FHA Instruction 451.5
initial insured loan. The new borrower will pay the usual appraisal fee. Loan P art 361R outine limitations will apply as in the case of an MISCELLANEOUS AMENDMENTS
initial insured loan.
4 The new borrower will be required 1. Section 361.21 a 3, Title 6, Code of Federal Regulations 21 F. R. to pay an initial loan insurance charge 5555 is revised to refer to those casesfrom the date his insured loan is closed in which the note is held by the insur to the next January 1. The charge must be paid by the new borrower even though ance fund, and to read as follows:
the old borrower has paid a loan insur 361.21 Scope.
ance charge covering the same period.
a Payment in full and refi 5 On or before the date Of loan clos nancing.
ing, the new borrower will be required to 3
Insured note. Payment in fulldeposit in a supervised bank account a and refinancing when the Government down payment of not less than the is named in the mortgage as the mortamount required in the case of an initial gagee and the lender holds the note. In insured loan to an applicant to purchase case the note is held by the insurance a farm.
fund, payment in full and refinancing 3.
The introductory paragraph will be handled in accordance with P art 361,23, Title 6, Code of Federal Regula 366 of this chapter.
tions 21 F. R. 5556 is revised to provide 2. In 361.22, Title 6, Code of Federal th at a loan to a new borrower in connec Regulations 21 F. R. 5556, paragraph tion with the sale transfer of a farm f is amended to add special provisions within the program will be processed in for loans in connection with the. sale of accordance with 361.22 f, and to read farms within the program, and to read as follows:
as follows:
361.23 Payment in full from bor 361.22 General.
rowers funds, refinancing by a new f Special provisions for loan in con lender on a noninsured basis, sale of farm nection with sale transfer of farm except when holder finances purchaser.
within program. When a new insured This section applies to all cases where loan is made in connection with the sale final payment of the insured loan indebt transfer ofa_farm within the program edness is to be derived from the borrow to another insured Farm Ownership loan ers funds, the proceeds from refinancing applicant, the following requirements with a new lender on a noninsured basis, will be observed:
the proceeds from the sale transfer of 1 The transfer of ownership of an a farm within the program when a new insured Farm Ownership borrowers lender furnishes the funds, and the pro farm to another eligible applicant will be ceeds from the sale of a farm outside the accomplished by making a new insured program when a new lender furnishes the loan to the new borrower and refinanc funds. The funds for final payment in ing the old borrowers loan.
such cases will be processed through the 2 Title clearance will be accom Finance Office. The County Supervisor plished in accordance with the method is authorized to approve all of the above prescribed by the loan approval official transactions except th at involving the with the advice of the Attorney in proceeds from the sale transfer of a Charge. The applicable provisions of farm within the program when a new Subpart A of P art 307 of this chapter will lender furnishes the funds, in which case be followed insofar as practicable, except Continued on next page
CONTENTS
Agricultural Marketing Service
Pas
Notices:
Presho Livestock Auction Co.;
posting of stockyard_______
Rules and regulations:
Milk; in North Texas market ing areas; order suspending certain provisions_______
Pecans grown in Georgia, Ala bama, Florida, Mississippi, and South Carolina; order establishing administrative rules and regulations for Pecan Administrative Com mittee___________________

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Agriculture Department
See also Agricultural Marketing Service; Commodity Stabiliza tion Service; Farmers Home Administration; Forest Service.
Notices : .
California and Minnesota; des of ignation of areas for produc tion emergency loans_____ __

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AJien Property Office
Notices:
Smit, Willem Frans; vested property, intention to return.

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Commodity Stabilization Service
Rules and regulations:
Rice; determination of county and farm normal yields for 1956 crop_________________
Sugar; allotment of quotas;
mainland cane sugar area, 1957 ______
Tobacco, bur ley; announcement and apportionment of n a tional marketing quota for 1957-58 marketing year_____

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Defense Mobilization Office
Rules and regulations:
Expansion goals; certain items transferred from open to closed listing_____________

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Farmers Home Administration
Rules and regulations:
Accounting servicing; miscel laneous amendments_____:_
Farm housing loans; miscella neous amendments_________
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