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12.1 INTRODUCTION
Lenders must ensure the property to be purchased is eligible for the Single Family Housing Guaranteed Loan Program (SFHGLP). The Agency’s minimum property requirements serve to protect the borrower’s interest, minimize the lender’s loss, and reduce the potential risk to the government in the event of liquidation. It is the lender’s responsibility to ensure that the property meets the Agency’s standards.
SECTION 1: UNDERWRITING THE PROPERTY [7 CFR 3555.201]