Compliance Calendar

Click the link to read the full announcement.

The Single-Family Housing Guaranteed Loan Program (SFHGLP) published a Final Rule on January 3, 2025, implementing changes to 7 CFR 3555, which makes existing manufactured homes, which meet specific criteria, eligible for financing. In addition, the Final Rule reduces regulatory burdens related to manufactured housing requirements and provides flexibilities for energy efficient manufactured and modular homes located in land lease communities operating on a non-profit basis.

The effective date of the Final Rule is March 4, 2025.

To implement this Final Rule, revisions are being made to several Chapters of Handbook 1-3555. These changes are expected to become effective on March 4, 2025. Advanced copies of the revised chapters will be made available at least 30 days prior to the effective date of the Final Rule and will be located on the LINC Training and Resource Library.

Questions regarding program policy and this announcement may be directed to sfhgld.program@usda.gov or (833) 314-0168.

Thank you for supporting the Single-Family Housing Guaranteed Loan Program!

Click on the link to read the full final rule.

Starting March 30, 2025, payday and installment lenders must begin complying with important new requirements when they try to collect money from borrowers’ accounts.

The CFPB issued a regulation in 2017 adopting a two-strikes-and-you’re-out rule for covered lenders. Under that rule, after two tries to withdraw money from a borrower’s account have failed, covered lenders can’t try again unless the borrower specifically authorizes another attempt. The rule addresses lenders’ unfair and abusive practice of repeatedly trying to withdraw money from an account to pay off the loan, even after the account had been shown to be empty. That practice can trigger a pile of additional fees for the borrower while it rarely benefits lenders.

The regulation was originally set to take effect in 2019 but was delayed by litigation brought to block the rule. The court of appeals hearing the case ultimately rejected the payday lenders’ claims, affirmed the rule, and upheld the CFPB’s finding that the prohibited practice was unfair. More recently, it rejected the payday lenders’ efforts to further delay the rule and confirmed that the rule will finally take effect March 30, as the CFPB previously announced.