When an agricultural State mediation is requested, what is the effect on loan servicing timeframes, including deadlines for review by Credit Review Committees?
If the borrower requested mediation before a decision letter was issued, the qualified lender’s time to issue a decision would start at the conclusion of the mediation. This is because the mediation process would be included as part of the plan negotiations. For example, if the mediation did not result in a plan of restructure that all parties agreed to, the lender would have the full 15 days after the mediation concluded to issue an adverse decision letter. If the borrower requests mediation after receiving the adverse decision letter, timeframes are frozen from the point a borrower requests mediation to the conclusion of the mediation. The timelines restart after the borrower receives notice of the results of the mediation. This notice would include any remaining time the borrower has to request a review by the Credit Review Committee. However, the 15-day notice to the borrower before a Credit Review Committee meeting remains intact. Similarly, independent collateral evaluations may
