ShareOn February 11, the House Committee on Agriculture held a hearing on the "State of the Rural Economy." NAR took this opportunity to remind the Committee of the importance of rural housing programs. NAR urged Congress to provide the Rural Housing Service (RHS) with the authority to approve Direct Endorsed (DE) lenders, similar to FHA and VA. Today, all loans must be reviewed by RHS staff. DE lenders will streamline loan processing and reduce burdens on the agency. In a letter to the Committee, NAR also supports updating the definition of rural to better reflect today's demographics.
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