Title 7

PART 1951

Part 1951 - Servicing And Collections

PART 1951 - SERVICING AND COLLECTIONS Authority:5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480. Editorial Notes:1. Some of the exhibits referenced in this part 1951 are not published in the Code of Federal Regulations. Exhibits are available in any Rural Development office.

2. Nomenclature changes to part 1951 appear at 80 FR 9890-9894, Feb. 24, 2015.

• Authority: 5 U.S.C. 301; 7 U.S.C 1932 note; 7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C. 1480.

7:14.1.1.1.2.1	SUBPART A	Subpart A - Account Servicing Policies
7:14.1.1.1.2.1.1.1	SECTION 1951.1	1951.1 Purpose.
7:14.1.1.1.2.1.1.2	SECTION 1951.2	1951.2 Policy.
7:14.1.1.1.2.1.1.3	SECTION 1951.3	1951.3 Authorities and responsibilities.
7:14.1.1.1.2.1.1.4	SECTION 1951.4-1951.6	1951.4-1951.6 [Reserved]
7:14.1.1.1.2.1.1.5	SECTION 1951.7	1951.7 Accounts of borrowers.
7:14.1.1.1.2.1.1.6	SECTION 1951.8	1951.8 Types of payments.
7:14.1.1.1.2.1.1.7	SECTION 1951.9	1951.9 Distribution of payments when a borrower owes more than one type of Agency loan.
7:14.1.1.1.2.1.1.8	SECTION 1951.10	1951.10 Application of payments on production type loan accounts.
7:14.1.1.1.2.1.1.9	SECTION 1951.11	1951.11 Application of payments on real estate accounts.
7:14.1.1.1.2.1.1.10	SECTION 1951.12	1951.12 Changes in the application of loan payments.
7:14.1.1.1.2.1.1.11	SECTION 1951.13	1951.13 Overpayments and refunds.
7:14.1.1.1.2.1.1.12	SECTION 1951.14	1951.14 Recoverable and nonrecoverable cost charges.
7:14.1.1.1.2.1.1.13	SECTION 1951.15	1951.15 Return of paid-in-full or satisfied notes to borrower.
7:14.1.1.1.2.1.1.14	SECTION 1951.16	1951.16 Other servicing actions on real estate type loan accounts.
7:14.1.1.1.2.1.1.15	SECTION 1951.17-1951.24	1951.17-1951.24 [Reserved]
7:14.1.1.1.2.1.1.16	SECTION 1951.25	1951.25 Review of limited resource FO, OL, and SW loans.
7:14.1.1.1.2.1.1.17	SECTION 1951.26-1951.49	1951.26-1951.49 [Reserved]
7:14.1.1.1.2.1.1.18	SECTION 1951.50	1951.50 OMB control number.
7:14.1.1.1.2.1.1.19.1	APPENDIX	Exhibit A to Subpart A of Part 1951 - Notice to Agency Borrowers
7:14.1.1.1.2.1.1.19.2	APPENDIX	Exhibit B to Subpart A of Part 1951 - Notice of Change in Interest Rate
7:14.1.1.1.2.2	SUBPART B	Subparts B-C [Reserved]
7:14.1.1.1.2.3	SUBPART D	Subpart D - Final Payment on Loans
7:14.1.1.1.2.3.1.1	SECTION 1951.151	1951.151 Purpose.
7:14.1.1.1.2.3.1.2	SECTION 1951.152	1951.152 Definition.
7:14.1.1.1.2.3.1.3	SECTION 1951.153	1951.153 Chattel security or note-only cases.
7:14.1.1.1.2.3.1.4	SECTION 1951.154	1951.154 Satisfaction and release of documents.
7:14.1.1.1.2.3.1.5	SECTION 1951.155	1951.155 County and/or District Office actions.
7:14.1.1.1.2.3.1.6	SECTION 1951.156-1951.200	1951.156-1951.200 [Reserved]
7:14.1.1.1.2.4	SUBPART E	Subpart E - Servicing of Community and Direct Business Programs Loans and Grants
7:14.1.1.1.2.4.1.1	SECTION 1951.201	1951.201 Purposes.
7:14.1.1.1.2.4.1.2	SECTION 1951.202	1951.202 Objectives.
7:14.1.1.1.2.4.1.3	SECTION 1951.203	1951.203 Definitions.
7:14.1.1.1.2.4.1.4	SECTION 1951.204	1951.204 Nondiscrimination.
7:14.1.1.1.2.4.1.5	SECTION 1951.205	1951.205 Redelegation of authority.
7:14.1.1.1.2.4.1.6	SECTION 1951.206	1951.206 Forms.
7:14.1.1.1.2.4.1.7	SECTION 1951.207	1951.207 State supplements.
7:14.1.1.1.2.4.1.8	SECTION 1951.208-1951.209	1951.208-1951.209 [Reserved]
7:14.1.1.1.2.4.1.9	SECTION 1951.210	1951.210 Environmental requirements.
7:14.1.1.1.2.4.1.10	SECTION 1951.211	1951.211 Refinancing requirements.
7:14.1.1.1.2.4.1.11	SECTION 1951.212	1951.212 Unauthorized financial assistance.
7:14.1.1.1.2.4.1.12	SECTION 1951.213	1951.213 Debt settlement.
7:14.1.1.1.2.4.1.13	SECTION 1951.214	1951.214 Care, management, and disposal of acquired property.
7:14.1.1.1.2.4.1.14	SECTION 1951.215	1951.215 Grants.
7:14.1.1.1.2.4.1.15	SECTION 1951.216	1951.216 Nonprogram (NP) loans.
7:14.1.1.1.2.4.1.16	SECTION 1951.217	1951.217 Public bodies.
7:14.1.1.1.2.4.1.17	SECTION 1951.218	1951.218 Use of Rural Development loans and grants for other purposes.
7:14.1.1.1.2.4.1.18	SECTION 1951.219	1951.219 [Reserved]
7:14.1.1.1.2.4.1.19	SECTION 1951.220	1951.220 General servicing actions.
7:14.1.1.1.2.4.1.20	SECTION 1951.221	1951.221 Collections, payments and refunds.
7:14.1.1.1.2.4.1.21	SECTION 1951.222	1951.222 Subordination of security.
7:14.1.1.1.2.4.1.22	SECTION 1951.223	1951.223 Reamortization.
7:14.1.1.1.2.4.1.23	SECTION 1951.224	1951.224 Third party agreements.
7:14.1.1.1.2.4.1.24	SECTION 1951.225	1951.225 Liquidation of security.
7:14.1.1.1.2.4.1.25	SECTION 1951.226	1951.226 Sale or exchange of security property.
7:14.1.1.1.2.4.1.26	SECTION 1951.227	1951.227 Protective advances.
7:14.1.1.1.2.4.1.27	SECTION 1951.228-1951.229	1951.228-1951.229 [Reserved]
7:14.1.1.1.2.4.1.28	SECTION 1951.230	1951.230 Transfer of security and assumption of loans.
7:14.1.1.1.2.4.1.29	SECTION 1951.231	1951.231 Special provisions applicable to Economic Opportunity (EO) Cooperative Loans.
7:14.1.1.1.2.4.1.30	SECTION 1951.232	1951.232 Water and waste disposal systems which have become part of an urban area.
7:14.1.1.1.2.4.1.31	SECTION 1951.233-1951.239	1951.233-1951.239 [Reserved]
7:14.1.1.1.2.4.1.32	SECTION 1951.240	1951.240 State Director's additional authorizations and guidance.
7:14.1.1.1.2.4.1.33	SECTION 1951.241	1951.241 Special provision for interest rate change.
7:14.1.1.1.2.4.1.34	SECTION 1951.242	1951.242 Servicing delinquent Community Facility loans.
7:14.1.1.1.2.4.1.35	SECTION 1951.243-1951.249	1951.243-1951.249 [Reserved]
7:14.1.1.1.2.4.1.36	SECTION 1951.250	1951.250 OMB control number.
7:14.1.1.1.2.4.1.37.3	APPENDIX	Exhibits to Subpart E of Part 1951, Note
7:14.1.1.1.2.5	SUBPART F	Subpart F - Analyzing Credit Needs and Graduation of Borrowers
7:14.1.1.1.2.5.1.1	SECTION 1951.251	1951.251 Purpose.
7:14.1.1.1.2.5.1.2	SECTION 1951.252	1951.252 Definitions.
7:14.1.1.1.2.5.1.3	SECTION 1951.253	1951.253 Objectives.
7:14.1.1.1.2.5.1.4	SECTION 1951.254	1951.254 [Reserved]
7:14.1.1.1.2.5.1.5	SECTION 1951.255	1951.255 Nondiscrimination.
7:14.1.1.1.2.5.1.6	SECTION 1951.256-1951.261	1951.256-1951.261 [Reserved]
7:14.1.1.1.2.5.1.7	SECTION 1951.262	1951.262 Farm Credit Programs - graduation of borrowers.
7:14.1.1.1.2.5.1.8	SECTION 1951.263	1951.263 Graduation of non-Farm Credit programs borrowers.
7:14.1.1.1.2.5.1.9	SECTION 1951.264	1951.264 Action when borrower fails to cooperate, respond or graduate.
7:14.1.1.1.2.5.1.10	SECTION 1951.265	1951.265 Application for subsequent loan, subordination, or consent to additional indebtedness from a borrower who has been requested to graduate.
7:14.1.1.1.2.5.1.11	SECTION 1951.266	1951.266 Special requirements for MFH borrowers.
7:14.1.1.1.2.5.1.12	SECTION 1951.267-1951.299	1951.267-1951.299 [Reserved]
7:14.1.1.1.2.5.1.13	SECTION 1951.300	1951.300 OMB control number.
7:14.1.1.1.2.5.1.14.4	APPENDIX	Exhibit A to Subpart F of Part 1951 [Reserved]
7:14.1.1.1.2.5.1.14.5	APPENDIX	Exhibit B to Subpart F of Part 1951 - Suggested Outline for Seeking Information From Lenders on Credit Criteria for Graduation of Single Family Housing Loans
7:14.1.1.1.2.6	SUBPART G	Subparts G-N [Reserved]
7:14.1.1.1.2.7	SUBPART O	Subpart O - Servicing Cases Where Unauthorized Loan(s) or Other Financial Assistance Was Received - Community and Insured Business Programs
7:14.1.1.1.2.7.1.1	SECTION 1951.701	1951.701 Purpose.
7:14.1.1.1.2.7.1.2	SECTION 1951.702	1951.702 Definitions.
7:14.1.1.1.2.7.1.3	SECTION 1951.703	1951.703 Policy.
7:14.1.1.1.2.7.1.4	SECTION 1951.704-1951.705	1951.704-1951.705 [Reserved]
7:14.1.1.1.2.7.1.5	SECTION 1951.706	1951.706 Initial determination that unauthorized assistance was received.
7:14.1.1.1.2.7.1.6	SECTION 1951.707	1951.707 Determination of the amount of unauthorized assistance.
7:14.1.1.1.2.7.1.7	SECTION 1951.708	1951.708 Notification to recipient.
7:14.1.1.1.2.7.1.8	SECTION 1951.709	1951.709 Decision on servicing actions.
7:14.1.1.1.2.7.1.9	SECTION 1951.710	1951.710 [Reserved]
7:14.1.1.1.2.7.1.10	SECTION 1951.711	1951.711 Servicing options in lieu of liquidation or legal action to collect.
7:14.1.1.1.2.7.1.11	SECTION 1951.712-1951.716	1951.712-1951.716 [Reserved]
7:14.1.1.1.2.7.1.12	SECTION 1951.717	1951.717 Exception authority.
7:14.1.1.1.2.7.1.13	SECTION 1951.718-1951.750	1951.718-1951.750 [Reserved]
7:14.1.1.1.2.8	SUBPART P	Subparts P-Q [Reserved]
7:14.1.1.1.2.9	SUBPART R	Subpart R - Rural Development Loan Servicing
7:14.1.1.1.2.9.1.1	SECTION 1951.851	1951.851 Introduction.
7:14.1.1.1.2.9.1.2	SECTION 1951.852	1951.852 Definitions and abbreviations.
7:14.1.1.1.2.9.1.3	SECTION 1951.853-1951.858	1951.853-1951.858 [Reserved]
7:14.1.1.1.2.9.1.4	SECTION 1951.859	1951.859 Term of loans.
7:14.1.1.1.2.9.1.5	SECTION 1951.860-1951.865	1951.860-1951.865 [Reserved]
7:14.1.1.1.2.9.1.6	SECTION 1951.866	1951.866 Security.
7:14.1.1.1.2.9.1.7	SECTION 1951.867-1951.871	1951.867-1951.871 [Reserved]
7:14.1.1.1.2.9.1.8	SECTION 1951.872	1951.872 Other regulatory requirements.
7:14.1.1.1.2.9.1.9	SECTION 1951.873-1951.880	1951.873-1951.880 [Reserved]
7:14.1.1.1.2.9.1.10	SECTION 1951.881	1951.881 Loan servicing.
7:14.1.1.1.2.9.1.11	SECTION 1951.882	1951.882 [Reserved]
7:14.1.1.1.2.9.1.12	SECTION 1951.883	1951.883 Reporting requirements.
7:14.1.1.1.2.9.1.13	SECTION 1951.884	1951.884 Revolved funds.
7:14.1.1.1.2.9.1.14	SECTION 1951.885	1951.885 Loan classifications.
7:14.1.1.1.2.9.1.15	SECTION 1951.886-1951.888	1951.886-1951.888 [Reserved]
7:14.1.1.1.2.9.1.16	SECTION 1951.889	1951.889 Transfer and assumption.
7:14.1.1.1.2.9.1.17	SECTION 1951.890	1951.890 Office of Inspector General and Office of General Counsel referrals.
7:14.1.1.1.2.9.1.18	SECTION 1951.891	1951.891 Liquidation; default.
7:14.1.1.1.2.9.1.19	SECTION 1951.892-1951.893	1951.892-1951.893 [Reserved]
7:14.1.1.1.2.9.1.20	SECTION 1951.894	1951.894 Debt settlement.
7:14.1.1.1.2.9.1.21	SECTION 1951.895	1951.895 [Reserved]
7:14.1.1.1.2.9.1.22	SECTION 1951.896	1951.896 Appeals.
7:14.1.1.1.2.9.1.23	SECTION 1951.897	1951.897 Exception authority.
7:14.1.1.1.2.9.1.24	SECTION 1951.898-1951.899	1951.898-1951.899 [Reserved]
7:14.1.1.1.2.9.1.25	SECTION 1951.900	1951.900 OMB control number.

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