Federal Register #2026-18164

Farm Service Agency Final Rule: Farm Loan Program Regulatory Amendments and Application Fast Track Implementation

This opportunity concerns a final rule issued by the Department of Agriculture's Farm Service Agency (FSA) to amend Farm Loan Program (FLP) regulations: - Permanently implements the Application Fast Track (AFT) process to expedite underwriting for certain direct loan applicants - Utilizes financial benchmarks and historical repayment data for faster processing - Introduces regulatory changes to improve program efficiency and support IT modernization - Includes minor policy changes, clarifications, and technical corrections - Updates real estate appraisal procedures: - Allows less formal real estate evaluations for business loans of $250,000 or less - Permits less formal evaluations for commercial real estate transactions of $500,000 or less - Aligns with revised Office of Management and Budget (OMB) guidance - Applies to direct and guaranteed loans, including: - Farm ownership (FO) loans - Operating (OL) loans - Emergency (EM) loans - Removes obsolete programs such as the Special Apple Loan Program and Emergency Loan for Seed Producers Program - No OEMs or vendors are mentioned, as this is a regulatory and procedural update, not a procurement of products or services

Description

The Department of Agriculture's Farm Service Agency (FSA) is implementing a final rule to amend the Farm Loan Program regulations. The rule permanently implements the Application Fast Track process to expedite underwriting for certain direct loan applicants using financial benchmarks and historical repayment data. It also includes regulatory changes to improve program efficiency and support IT modernization, with minor policy changes, clarifications, and technical corrections. The changes aim to deliver farmer-focused programs more efficiently and cost-effectively, with an effective date of October 1, 2026.

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