Guaranteed Farm Loan Programs

Guaranteed Farm Loan Programs

FSA2248EGovInst[1]

Guaranteed Farm Loan Programs

OMB: 0560-0155

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Instructions for FSA-2248

GUARANTEED FARM LOAN DEFAULT STATUS REPORT

This form is used by guaranteed loan lenders to report to FSA the status of borrowers in default. This form should be prepared bimonthly (every 60 days) for all borrowers in default. 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. Identify the information in Items 6 through 11 and Items 13 through 15 for each attachment.


Submit the original of the completed form in hard copy or facsimile to the appropriate USDA servicing office.


Customers who have established electronic access credentials with FSA may electronically transmit this form to the USDA servicing office, provided that (1) the customer submitting the form is the only person required to sign the transaction, or (2) the customer has an approved Power of Attorney (Form FSA-211) on file with USDA to sign for other customers for the program and type of transaction represented by this form.


Features for transmitting the form electronically are available to those customers with access credentials only. If you would like to establish online access credentials with USDA, follow the instructions provided at the USDA eForms web site.

Lenders must complete Items 1 through 16.

Items 1-16

Fld Name /
Item No.

Instruction

1

Borrower ID Number

Enter the borrower’s social security number or Internal Revenue Service tax identification number.

2

Borrower Name

Enter the borrower’s name. If the name is to long for the space you may abbreviate when necessary.

3

Lender Identifi-cation Number

Enter the lender’s Internal Revenue Service tax identification number.

4

Lender Branch Number

Enter the FSA assigned lender branch number.

5

Lender Name

Enter the lender’s business name. If it is too long for the space, you may abbreviate when necessary.

6

Lender Loan Number

Enter the loan number assigned by the lender.

7

Agency Loan Number

Enter the FSA assigned loan number. This is available on a Form

1980-41, “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.

10

Unpaid Interest Accrued

Enter the 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 the code is 1-2, 4-7, 9, or 14-15, bimonthly default status reports must be submitted. 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.

14

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 on any action taken to correct the default or to provide an update on the status of the borrower.

16

Signature, Title, Date

A. The authorized lender’s representative must sign the form here.

B. Enter the signing party’s position title.

  1. Enter the date the form was signed.


If you are mailing or faxing this form, print the form and manually enter your signature. If this form is approved for electronic transmission and you have established credentials with FSA to submit forms electronically, use the buttons provided on the form for transmitting the form to the USDA servicing office.


File Typeapplication/msword
File TitleInstructions for FSA-1980-44
Authorgg330
Last Modified ByMaryann.ball
File Modified2007-06-07
File Created2007-06-07

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