Guaranteed Farm Loan Programs

FSA-2248 Date of Modification: 07-02-2020

GUARANTEED FARM LOAN DEFAULT STATUS REPORT
INSTRUCTIONS FOR PREPARATION
Purpose: To inform FSA of the status of borrowers in default. The form is required every 60 days for all borrowers in default to keep FSA informed of the current status. A separate report is required for each borrower in default. However, a single report can be prepared for a borrower that is in default on multiple loans if information pertaining to each individual loan in default is attached to this report.
Handbook Reference: 2-FLP	Number of Copies: Original and one copy.
Signatures Required: Lender
Distribution of Copies: Original to FSA Servicing Office. Copy retained by lender.
Automation-Related Transactions: GLS

Fld Name / Item No.	Instruction
1 FSA ID Number	Enter the borrower’s system generated FSA ID number.
2 Borrower’s Name	Enter the borrower’s name. If the name is too long for the space, you may abbreviate when necessary.
3 Lender’s ID Number	Enter the lender’s ID number.
4 Lender’s Branch Number	Enter the FSA assigned lender branch number.
5 Lender’s Name	Enter the lender’s name. If it is too long for the space, you may abbreviate when necessary.
6 Lender’s Loan Number	Enter the loan number assigned by the lender.
7 Agency Loan Number	Enter the FSA assigned loan number. This is available on FSA-2241 “Guaranteed Farm Loan Status Report,” previously completed for the loan.
8 Date Loan Became Delinquent	Enter the date the loan became delinquent.
9 Unpaid Principal on Loan	Enter the current unpaid principal balance on the loan as of the date in Item 12. If an estimated loss claim has been previously paid, and if the unpaid principal balance is less than line #40 Basic Loss on the estimated loss claim, then enter the basic loss amount.
10 Unpaid Interest Accrued	Enter the unpaid accrued interest on the loan as of the date in Item 12.
11 Total Amount Past Due	Enter the total amount past due on the loan as of the date in Item 12.
12 As of Date	Enter the current reporting date of this default status report.
13 Delinquent Code	Enter the code as identified in this section of the form that reflects the current status of the borrower’s loan account. If code 1-2, 4-7, 9 or 14-15 is entered, default status reports must be prepared every 60 days. If the code is 8, 11-13, or 16-17, no further default status reports are required unless the borrower returns to default status at a future date. Note: Codes 3 and 10 are not valid for this program.
14A & B Interest Assistance Has …	Complete this section to indicate that interest assistance has been considered and ruled out or is being requested on the loan.
15 Comments On …	Enter comments for any action taken to correct the default or to provide an update on the status of the borrower.
16A Signature	A. The authorized lender’s representative must sign the form here.
16B Title	B. Enter the signing party’s position title.
16C Date	Enter the date the form was signed.

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