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lotter on DSK11XQN23PROD with PROPOSALS1

30558

Federal Register / Vol. 86, No. 109 / Wednesday, June 9, 2021 / Proposed Rules
ii The Federal Deposit Insurance Corporation FDIC;
iii The National Credit Union Administration NCUA;
iv The Office of the Comptroller of the Currency OCC;
v The Federal Housing Finance Board regulating lenders within the Home Loan Bank FHLB system.
9 If lenders cannot meet the requirements under a1 through 8, they may demonstrate its ability to originate and underwrite loans by submitting appropriate documentation, examples of which include, but are not limited to:
10 A lender that proposes to service loans that cannot meet a1 through 8
must demonstrate its ability by submitting appropriate documentation, examples of which include but are not limited to:
b Financial Requirements for NonSupervised Lenders. All lenders not covered in paragraph 8 of this section, must have:
i A minimum adjusted net worth of $250,000, or $50,000 in working capital plus one percent of the total volume in excess of $25 million in guaranteed loans originated, serviced or purchased during the lenders prior fiscal year, up to a maximum required adjusted net worth of $2.5 million, and ii one or more lines of credit with a minimum aggregate of one million dollars.

c SFHGLP participation requirements Lenders and their agents must comply with the following requirements:
1 Keep up to date, and comply with, all Agency regulations and handbooks, including all amendments and revisions of program requirements and policies.
Lenders must also comply with all other applicable federal, state, and local laws, rules, and requirements, including those under the purview of the Consumer Financial Protection Bureau, such as the Real Estate Settlement Procedures Act and the Truth in Lending Act. Lenders who originate a minimal number loans, as determined by the Agency, in a 24
month time frame may be required to take updated training to ensure a lenders continued knowledge of the program;
2 Regularly check Rural Developments website for new issuances related to the program;
3 Underwrite loans according to Rural Development regulations and process and approve loans in accordance with program instructions;
4 Review loan applications for accuracy and completeness;

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5 Ensure that applicant income limits are not exceeded;
6 Ensure that borrowers have adequate loan repayment ability and acceptable credit histories;
7 Ensure that loss claims include only supportable costs;
8 Cooperate fully with Agency reporting and monitoring requirements;
9 Comply with limitations on loan purposes, loan limitations, interest rates, and loan terms;
10 Inform Rural Development immediately after the sale, transfer, or change of servicers of any Agency guaranteed loan;
11 Maintain reasonable and prudent business practices consistent with generally accepted mortgage industry standards, such as maintaining fidelity bonding;
12 Remain responsible for servicing even if servicing has been contracted to a third party;
13 Use Rural Development, HUD, Fannie Mae, or Freddie Mac forms, unless otherwise approved by Rural Development;
14 Maintain eligibility under paragraph a of this section;
15 Notify Rural Development if there are any material changes in organization or practices;
16 Be neither debarred nor suspended from participation in Federal programs, not debarred, suspended or sanctioned under state licensing and certification laws and regulations;
17 Notify Rural Development in the event of its bankruptcy or insolvency;
18 Remain free from default and delinquency on any debt owed to the Federal government;
19 Allow Rural Development or its representative access to the lenders records, including, but not limited to, records necessary for on-site and desk reviews of the lenders operation and the operations of any of its agents to verify compliance with Agency regulations and guidelines;
20 Maintain adequate operational quality control and reporting procedures to prevent fraud;
21 Maintain complete loan files with all required documentation that is accessible by Agency upon request for review;
22 Execute a lenders agreement provided by Rural Development;
23 Evidence that principal officers must have a minimum of two years of experience in originating or servicing guaranteed mortgage loans; and 24 Provide documentation as required by the Agency to be reviewed every two years for continued lender participation.

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3555.105

Amended
4. Amend 3555.105 by removing paragraphs b4 and 5 and renumbering paragraph b6 as appropriate.
5. Amend 3555.151 by adding paragraph i9 to read as follows:

3555.151

Eligibility Requirements.

i
9 Applicants with delinquent child support payments subject to collection by administrative offset are ineligible unless the payments are brought current, the debt is paid in full, or otherwise satisfied.

Chadwick Parker, Acting Administrator, Rural Housing Service.
FR Doc. 202111937 Filed 6821; 8:45 am BILLING CODE 3410XVP

AGENCY FOR INTERNATIONAL
DEVELOPMENT
22 CFR Part 212
RIN 0412AA97

United States Agency for International Development: Regulation To Implement the Freedom of Information Act Agency for International Development USAID.
ACTION: Proposed rule.
AGENCY:

This regulation updates certain procedures and standards USAID follows in processing requests for records under the Freedom of Information Act FOIA.
DATES: Submit comments on or before August 9, 2021.
ADDRESSES: Address all comments for this proposed rule to Alecia S. Sillah, Supervisory FOIA Team Lead, Bureau for Management, Office of Management Services, Information Records Division, U.S. Agency for International Development, electronically at foia@
usaid.gov.
FOR FURTHER INFORMATION CONTACT:
Christopher A. Colbow, Bureau for Management, Office of Management Services, Information Records Division, U.S. Agency for International Development, 1300 Pennsylvania Avenue, USAID Annex, Room 2.4.0A, Washington, DC 20523; tel. 202916
4661; foia@usaid.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:

I. Background This rulemaking proposes revisions to 22 CFR part 212, USAIDs regulations
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