Replacement of loan note guarantee and assignment guarantee agreement.

CFR · 2024-01-01 · US · Title 7

If a loan note guarantee or assignment guarantee agreement has been lost, stolen, destroyed, mutilated, or defaced while in the custody of the lender or holder, the Agency may issue a replacement to the lender or holder, as applicable under the conditions described in paragraphs (a) through (b) of this section. The lender is prohibited from altering or modifying or approving any alterations to or modifications of any loan documents without the prior written approval of the Agency. (a) (1) A written statement of loss which includes: (i) Legal name and present address of either the lender or the holder who is requesting the replacement forms; (ii) Legal name and address of the lender of record; (iii) Capacity of person certifying; (iv) Full identification of the loan note guarantee or assignment guarantee agreement including the name of (v) A full statement of circumstances of the loss, theft, destruction, defacement, or mutilation of the loan note guarantee or assignment guarantee agreement; and (vi) For the holder, evidence demonstrating current ownership of the assignment guarantee agreement. If the present holder is not the same as the original holder, the lender must include a copy of the endorsement of each successive holder in the chain of transfer from the initial holder to present holder. If copies of the endorsement cannot be obtained, the lender must submit the best available records of transfer ( (b) (1) Be issued by a qualified surety company holding a certificate

official document · source cfr-2024 · id 7:§ 5001.459