DELEGATION OF GUARANTEED RURAL HOUSING LOAN APPROVAL.

SEC. 201. DELEGATION OF GUARANTEED RURAL HOUSING LOAN APPROVAL. Subsection (h) of section 502 of the Housing Act of 1949 (42 U.S.C. 1472(h)) is amended by adding at the end the following new paragraph: “(18) Delegation of approval.—The Secretary may delegate, in part or in full, the Secretary’s authority to approve and execute binding Rural Housing Service loan guarantees pursuant to this subsection to certain preferred lenders, in accordance with standards established by the Secretary.” .