🐟Maritime Administration Proposes Changes to American Fisheries Act Regulations
On May 1, 2019, MARAD published an Advanced Notice of Proposed Rulemaking (ANPRM), titled "How Best to Simplify Filing Statements of American Fisheries Act Citizenship: Policy and Regulatory Review," soliciting public comment on steps MARAD could take to simplify and modernize the process for evidencing U.S. citizenship for owners of U.S.-flag fishing industry vessels of 100 feet or greater in registered length. In response to public support for updating our regulations, MARAD is soliciting public comments on this Notice of Proposed Rulemaking (NPRM). Consistent with comments received, the proposed rule would simplify the annual citizenship filing procedures under the American Fisheries Act (AFA) program in order to reduce costs or administrative burdens placed on owners of fishing industry vessels. MARAD proposes (1) to simplify and streamline annual renewal filing for vessel owners whose citizenship information has not changed since their affidavit of U.S. citizenship (AFA Affidavit) filing; (2) to update acceptable methods for evidencing citizenship of publicly traded entities; and (3) to eliminate requirements to provide personally identifiable information (i.e., social security numbers and dates and places of birth for corporate officers and directors) in affidavits of AFA citizenship.
Learn More🏡Impact of New Market Study Requirement on Rural Housing Loans
The Rural Housing Service (RHS or Agency), an agency of the Rural Development (RD), within the United States Department of Agriculture (USDA), is issuing a proposed rule to amend its regulation that will require applicants (lenders) to submit a market study as part of the complete application for the Guaranteed Rural Rental Housing Program (GRRHP) loan guarantee. This change will require all applicants to use a market study when demonstrating market need for new construction.
Learn More💰2025 Adjustment of Civil Monetary Penalties by HUD
This rule provides for 2025 inflation adjustments of civil monetary penalty amounts required by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the 2015 Act). This rule also removes an obsolete regulation relating to the imposition of civil monetary penalties.
Learn More💼New PACE Financing Regulations
Section 307 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) directs the Consumer Financial Protection Bureau (CFPB or Bureau) to prescribe ability-to-repay rules for Property Assessed Clean Energy (PACE) financing and to apply the civil liability provisions of the Truth in Lending Act (TILA) for violations. PACE financing is financing to cover the costs of home improvements that results in a tax assessment on the real property of the consumer. In this final rule, the CFPB implements EGRRCPA section 307 and amends Regulation Z to address how TILA applies to PACE transactions.
Learn More🏠USDA Updates Rules for Manufactured Housing Financing Options
The Rural Housing Service (RHS or the Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is amending the current regulations for the Single Family Housing (SFH) Direct Loan Program and the SFH Guaranteed Loan Program. The intent of this final rule is to allow the Agency to give borrowers increased purchase options within a competitive market and increase adequate housing along with an enhanced customer experience with the SFH programs.
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