The Rural Housing Service (RHS), a part of the U.S. Department of Agriculture, had planned a new rule regarding how credit reports are obtained for their Multifamily Housing Programs. This rule was initially set to go into effect on January 30, 2025, but the effective date has now been delayed until March 31, 2025. The delay is due to a presidential memorandum that called for a review of new regulations. This action allows department officials more time to review the changes without the need for public comments, as the delay is intended to ensure orderly implementation of the rule.
Simple Explanation
The people who help with housing in the countryside wanted to change the way they check if someone can pay for renting apartments, but now they've decided to wait a little longer before making the change, so they can make sure everything is okay first.