OMB Control Number: 0560-0237.
Title of Clearance: Farm Loan Programs; Direct Loan Making.
Agency Form Number affected by Change Worksheet: FSA 2319, Agreement with Prior Lienholder.
Other Changes:
The specific changes to Form FSA-2319 are the following:
Item 4(b) is revised to clarify that if the mortgagee assigns its lien to the Government, the assignment includes applicable borrower rights.
Item 4(c) is revised to clarify that readvancing on a line of credit is permitted up to the maximum principal borrowing limit and is not considered a future advance.
These changes are necessary to clarify FSA’s policy on assignment of borrower rights and treatment of a line of credit secured by a lender’s prior mortgage.
There are no changes to the burden hours for the form because these changes do not impact the time to review and complete the form.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| File Modified | 0000-00-00 |
| File Created | 0000-00-00 |