7 CFR 763.22

§ 763.22 Negligence and negligent servicing.

United States · 7 CFR — Agriculture · Status: effective

Cite this

Citation: 7 CFR 763.22, § 763.22 Negligence and negligent servicing, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19819
Permanent ID: ys:prov:19819@1
SHA-256: b763b94120f83b69d6d2b0f3b8b7bb189c0dbef4e356b624ac661b5e83718529

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Full text

(a) The Agency may deny a loss claim in whole or in part due to negligence that contributed to the loss claim. This could include, but is not limited to: (1) The escrow and servicing agent failing to seek payment of a missed installment from the buyer within the prescribed timeframe or otherwise does not enforce the terms of the land contract; (2) Losing the collateral to a third party, such as a taxing authority, prior lien holder, etc; (3) Not performing the duties and responsibilities required of the escrow or servicing agent; (4) The seller's failure to disclose environmental issues; or (5) Any other action in violation of the land contract or guarantee agreement that does not terminate the guarantee. (b) [Reserved]

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.