7 CFR 3550.203
§ 3550.203 General servicing actions.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 3550.203, § 3550.203 General servicing actions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/30290
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.