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[Federal Register Volume 90, Number 18 (Wednesday, January 29, 2025)]
[Rules and Regulations]
[Pages 8367-8368]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01922]

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DEPARTMENT OF AGRICULTURE

Rural Housing Service

7 CFR Parts 1910, 1955, and 3560

[Docket No. RHS-24-MFH-0042]
RIN 0575-AD30

Multifamily Housing Program Update to the Credit Report Process

AGENCY: Rural Housing Service, U.S. Department of Agriculture (USDA).

ACTION: Final rule; delay of effective date.

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SUMMARY: The Rural Housing Service (RHS or Agency), a Rural Development 
(RD) agency of the United States Department of Agriculture (USDA), 
published a final rule on December 31, 2024, to update its regulation 
on how credit reports are obtained for the purposes of determining 
eligibility and feasibility for Multifamily Housing (MFH) Programs. The 
effective date of that final rule was January 30, 2025. This document 
delays the effective date of the final rule by 60 days.

DATES: As of January 29, 2025, the effective date of the final rule 
published on December 31, 2024, at 89 FR 106977, is delayed until March 
31, 2025.

FOR FURTHER INFORMATION CONTACT: Abby Boggs, Branch Chief, Program 
Support Branch, Production and Preservation Division, Multifamily 
Housing, Rural Development, U.S. Department of Agriculture, 1400 
Independence Avenue SW, Washington, DC 20250, telephone: 615-490-1371; 
or email: [email protected].

SUPPLEMENTARY INFORMATION: In accordance with the memorandum of January 
20, 2025, from the President to executive departments and agencies, 
entitled ``Regulatory Freeze Pending Review,'' this action temporarily 
delays the effective date of the rule entitled ``Multifamily Housing 
Program Update to the Credit Report Process'' published in the Federal 
Register on December 31, 2024, at 89 FR 106977. That rule made changes 
to 7 CFR part 3560 to require that in lieu of applicants and borrowers 
submitting credit report fees, the Agency will require applicants and 
borrowers to provide the credit report(s). The final rule also includes 
conforming changes to rescind 7 CFR part 1910, subparts B and C, and 7 
CFR 1955.118, which are outdated.

[[Page 8368]]

    This action is exempt from notice and comment under 5 U.S.C. 553 
and is effective immediately upon publication in this issue of the 
Federal Register, based on the good cause exceptions in 5 U.S.C. 
553(b)(B) and 553(d)(3), respectively. Seeking public comment is 
impracticable, unnecessary, and contrary to the public interest. The 
temporary delay in effective date is necessary to give Department 
officials the opportunity for further review and consideration of new 
regulations, consistent with the President's memorandum of January 20, 
2025. Given the imminence of the effective date, seeking prior public 
comment on this temporary delay would have been impractical, as well as 
contrary to the public interest in the orderly promulgation and 
implementation of regulations. The imminence of the effective date is 
also good cause for making this action effective immediately upon 
publication.

Angilla Denton,
Acting Administrator, Rural Housing Service.
[FR Doc. 2025-01922 Filed 1-27-25; 11:15 am]
BILLING CODE 3410-XV-P
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