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Federal Register / Vol. 86, No. 150 / Monday, August 9, 2021 / Rules and Regulations
Subpart EDownpayment Loan Program
PART 765DIRECT LOAN
SERVICINGREGULAR

protections specified in paragraph a of this section.

27. Amend 764.201 by revising the section heading and removing the word Downpayment and adding the words Down payment in its place.
The revision reads as follows:

35. The authority citation for part 765
continues to read as follows:

Subpart FRequired Use and Operation of Agency Security

764.201

764.203

Down payment loan uses.

28. Amend 764.203:
a. In paragraph a2, by removing the word downpayment and adding the words down payment in its place;
and b. In paragraphs b introductory text and c, by removing Downpayment and adding Down payment in its place.
Amended
29. Amend 764.204 in paragraphs a and b1 by removing the word Downpayment and adding the words Down payment in its place.

764.205

30. Amend 764.205 in the introductory text by removing the word Downpayment and adding the words Down payment in its place.
Subpart GOperating Loan Program Amended
31. Amend 764.251 in paragraph a2 by adding the words or fixtures after the word equipment.

764.254

Amended
32. Amend 764.254 in paragraphs b1i and ii by removing the number 18 and adding 24 in its place.

Subpart IEmergency Loan Program 764.354

Amended
33. Amend 764.354 in paragraph b3 by removing the number 18 and adding 24 in its place.

Subpart KBorrower Training and Training Vendor Requirements 34. Amend 764.453 by adding paragraph d to read as follows.

764.453 Agency waiver of training requirements.
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d When considering subsequent loan actions, previous training requirements that have not yet been satisfied may be waived by the Agency should the borrower submit satisfactory evidence in accordance with paragraph b of this section.

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36. Amend 765.51 by revising the section heading and paragraph a to read as set forth below.

765.51

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Required review.

a At least every 2 years, a borrower with limited resource interest rate loans is required to provide the operations financial information to the Agency; for the Agency to determine if the borrower can afford to pay a higher interest rate on the loan. The Agency will review the information provided in accordance with 761.105 of this chapter.

Subpart DBorrower Payments

Amended

764.251

Subpart BBorrowers with Limited Resource Interest Rate Loans

Amended

764.204

Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.

37. Add 765.161 to read as follows:

765.161
Forces.

Borrowers entering the Armed
a Protections for borrowers on active duty. The Servicemembers Civil Relief Act Pub. L. 108189 and the Ronald W. Reagan National Defense Authorization Act for Fiscal Year FY
2005 Pub. L. 108375 provide certain loan servicing protections for military borrowers. The Agency will apply those loan servicing protections to applicable Farm Loan borrowers.
1 The benefits and protections of the Servicemembers Civil Relief Act apply to borrowers on active duty at all times.
2 The requirements of the Ronald W.
Reagan National Defense Authorization Act for Fiscal Year FY 2005 apply during a time of a war or national emergency as declared by the President or Congress.
b Eligibility for National Guard members and military reservists.
Borrowers who are National Guard members or military reservists will be eligible for the protections covered by this section, as specified in paragraphs b1 and 2 of this section:
1 National Guard members must be on duty for at least 30 consecutive calendar days.
2 Military reservists are eligible from the date orders are received to report for active duty.
c Entity eligibility. National Guard members and military reservists on active duty and any operating entity owned solely by the active duty borrower may be considered for
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38. Amend 765.252 by revising paragraph a4 to read as follows:

765.252

Lease of security.

a
4 The lease does not hinder the future operation or success of the farm, or, if the borrower has ceased to operate the farm, the requirements specified in 765.253 are met. Leases for nonfarm enterprises, such as solar farms, which take significant acreage of the operation out of agriculture production are not authorized. Non-productive land may be considered for this type of lease; and.

Subpart HPartial Release of Real Estate Security 765.351

Amended
39. Amend 765.351 in the second sentence of paragraph f6 by removing the words and released.

765.353

Amended
40. Amend 765.353 in paragraph a2 by removing $25,000 and adding $50,000 in its place.

PART 766DIRECT LOAN
SERVICINGSPECIAL
41. The authority citation for part 766
continues to read as follows:

Authority: 5 U.S.C. 301, 7 U.S.C. 1989, and 1981dc.

Subpart CLoan Servicing Programs 42. In 766.106 amend the introductory text by adding a second sentence to read as follows:

766.106 Agency notification of decision regarding a complete application.

Except that when a real estate appraisal is involved, the Agency will send the borrower notification of the Agencys decision within 90 calendar days after receiving a complete application.

43. Amend 766.111 by:
a. Revising the paragraph a subject heading;
b. Adding introductory text to paragraph b; and c. Revising paragraph b1.
The revisions and addition read as follows:
766.111

Writedown.

a Borrower eligibility.

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