For direct loan applicants, FSA provides two notifications of an incomplete application.More information can be found in this JanuFSA letter to direct loan borrowers.Ĭontact the FSA office at your local USDA Service Center.įSA is relaxing the loan making process and adding flexibilities for servicing direct and guaranteed loans to provide credit to producers in need. Although some direct loan borrowers may have received a standardized form known as the “Notice of Intent to Accelerate”, they should rest assured that USDA is not pursuing any acceleration or foreclosure. The temporary suspension is in place until further notice and is expected to continue while the national COVID-19 disaster declaration is in place. USDA will not be accelerating or foreclosing on any direct loans, regardless of payment status, while the suspension is in effect. In addition, for the Guaranteed Loan program, flexibilities have been made available to lenders to assist in servicing their customers. Attorney’s Office to stop judicial foreclosures and evictions on accounts that were previously referred to the Department of Justice.Īdditionally, USDA extended deadlines for producers to respond to loan servicing actions, including loan deferral consideration for financially distressed and delinquent borrowers. USDA has temporarily suspended non-judicial foreclosures, debt offsets or wage garnishments, and referring foreclosures to the Department of Justice. Suspending Debt Collection and Foreclosures
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