Student loan servicing market.

CFR · 2024-01-01 · US · Title 12

(a) (i) (ii) (iii) (B) If two persons become affiliated companies, each person's number of accounts as of the prior calendar year's December 31 is included in the total account volume. (C) If two affiliated companies cease to be affiliated companies, the number of accounts of each continues to be included in the other's account volume until the succeeding December 31. (i)(A) Receiving any scheduled periodic payments from a borrower or notification of such payments and (B) Applying payments to the borrower's account pursuant to the terms of the post-secondary education loan or of the contract governing the servicing; (ii) During a period when no payment is required on a post-secondary education loan, (A) Maintaining account records for the loan and (B) Communicating with the borrower regarding the loan, on behalf of the loan's holder; or (iii) Interactions with a borrower, including activities to help prevent default on obligations arising from post-secondary education loans, conducted to facilitate the activities described in paragraph (i) or (ii) of this definition. (b)

official document · source cfr-2024 · id 12:§ 1090.106