delete PART 1955—PROPERTY MANAGEMENT
Regulation prescribes procedures for liquidating defaulted USDA Rural Development loans, including voluntary conveyances, foreclosures, authority delegations, appraisals, lien handling, and special rules for Native American borrowers.
The complex procedural requirements impose high administrative costs, delay asset recovery, and burden distressed borrowers with red tape. This regulatory burden, part of an overreaching federal lending program, could be eliminated or dramatically simplified to reduce government size, free up resources, and allow market-based resolution of defaults.