Data / Federal rules / 2024-16149
Single Family Housing Guaranteed Housing Payment Supplement Account Demonstration Program
The Rural Housing Service published this final rule in the Federal Register on July 24, 2024. It took effect on July 24, 2024.
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What the agency says
The Rural Housing Service (RHS or the Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is issuing this document for a demonstration program that will establish a new loss mitigation retention option, referred to as the Payment Supplement Account (PSA). The Agency's intention of this demonstration program is to assist borrowers who have experienced a documented hardship that led to an involuntary inability to pay their mortgage obligation, require payment reduction to resume making a monthly payment, and currently have a below market interest rate. This document briefly discusses a special servicing option for servicers to utilize to continue assisting struggling borrowers who seek loss mitigation alternatives, regardless of the nature of their hardship.
Key facts
- Document number
- 2024-16149
- Type
- Final rule
- Action
- Notification
- Agency
- Agriculture Department; Rural Housing Service
- Published
- July 24, 2024
- Takes effect
- July 24, 2024
- Dates
- The effective date of this demonstration program is July 24, 2024. The duration of the demonstration program is anticipated to continue until July 24, 2026, at which time the RHS may extend the demonstration program (with or without modifications) or terminate it depending on the workload and resources needed to administer the program, feedback from the public, and the effectiveness of the program. RHS will notify the public whether the demonstration program has been extended or terminated.
- Docket
- Docket No. RHS-24-SFH-0025
- Code of Federal Regulations
- 7 CFR 3555
- Pages
- 3
Other documents from the Rural Housing Service
| Document | Type | Published |
|---|---|---|
| Rescission of Rural Development's Construction and Repair Regulation 2026-16914 | Proposed rule | Aug 19 |
| Direct Multifamily Housing Subsequent Loans for Acquisition 2026-13455 | Proposed rule | Jul 2 |
| Changes Related to Insurance Requirements in Multi-Family Housing (MFH) Direct Loan and Grant Programs 2026-07618 | Final rule | Apr 20 |
| Single Family Housing Guaranteed Loan Program-Limited Party Concessions 2026-07617 | Proposed rule | Apr 20 |
| Revisions to the Calculation of Annual Household Income and Net Family Assets in the Section 515 Rural Rental Housing and Section 514/516 Farm Labor Housing Programs 2026-07064 | Final rule | Apr 13 |
| Multi-Family Housing Simple Transfer Pilot Program 2026-06951 | Final rule | Apr 10 |
| Single Family Housing Guaranteed Loan Program-Income Producing Accessory Dwelling Unit (ADU) Provisions 2026-06173 · significant | Proposed rule | Mar 31 |
| Single Family Housing Guaranteed Loan Program 2026-05387 · significant | Final rule | Mar 19 |
Everything from the Rural Housing Service · Published in July 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.