WASHINGTON, Sept. 4 -- Farm Service Agency has issued a rule called: Driving Efficiency in Farm Loan Delivery.
The rule was published in the Federal Register on Sept. 4 by William Beam, Administrator, Farm Service Agency.
Summary: The Farm Service Agency (FSA) is amending the Farm Loan Program (FLP) regulations to permanently implement the Application Fast Track (AFT) process, which expedites underwriting for certain direct loan applicants by using financial benchmarks and historical repayment data to identify applicants least likely to default. This rule also includes regulatory changes intended to improve program efficiency and support IT modernization efforts consisting of minor policy changes, clarifications, and technical corrections...