GroundRules
7 CFR 3550.203: General servicing actions.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER XXXV—RURAL HOUSING SERVICE, DEPARTMENT OF AGRICULTURE
- PART 3550—DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS
- Subpart E—Special Servicing
Whenever any of the servicing actions described in this subpart result in reamortization of the account RHS may:
(a) Require a borrower who currently makes annual payments, but receives a monthly income, to convert to monthly payments.
(b) Require the creation and funding of an escrow account for real estate taxes and insurance, if one does not already exist for any borrower with monthly payments.
(c) Convert the method of calculating interest for any account being charged daily simple interest to an amortized payment schedule.
Collected 2026-08-27T02:24:01Z. Source file · JSON