Rural Housing Service Revises Single Family Housing Guaranteed Loan Program Handbook

The Rural Housing Service recently issued a notice that it has changed certain provisions pertaining to servicing of non-performing loans in its Single Family Housing Guaranteed Loan Program guidance handbook.  The changes allow for additional loss mitigation options in presidentially declared disaster areas, provide a new waterfall of general loss mitigation alternatives, and re-design the program’s traditional modification scheme.

The changes became effective May 1, 2018, and a copy of the revised chapter can be read here.