An Analysis of Farmers Home Administration's Utilization of Transfer Authority in the Section 502 Rural Housing Loan Program

摘要

The paper analyzes the Farmers Home Administration's (FmHA) utilization of a servicing tool, called transfer authority, in the Agency's rural housing loan program. Transfer authority refers to an existing rural housing borrower transferring his/her property to an eligible rural housing applicant with the new applicant assuming the unpaid loan indebtedness. Six short term recommendations and one long term recommendation was made. Basically, the transfer regulations need to be simplified. More emphasis and guidance on making loan transfers needs to be given by the FmHA National Office to the FmHA field staff employees.