Servicing.

CFR · 2024-01-01 · US · Title 7

(a) (i) The borrower submits a completed Agency application form; and (ii) The account is delinquent due to circumstances beyond the borrower's control and cannot be brought current within 1 year; or (iii) The account is current, but due to circumstances beyond the borrower's control, the borrower will be unable to meet the annual loan payments. (2) (i) Reamortization within the remaining term of the loan will be predicated on a projection of the tribe's operating expenses indicating the ability to meet the new payment schedule; and (ii) No intervening lien exists on the security for the loan which would jeopardize the Government's security priority. (3) (b) (1) The borrower submits a completed Agency application form; (2) The loan was made more than 5 years prior to the application for the interest reduction; and (3) The Department of the Interior and the borrower certify that the borrower meets at least one of the criteria contained in paragraph (e)(2) of this section. (c) (1) The borrower submits a completed Agency application form; (2) The borrower presents a plan which demonstrates that due to circumstances beyond their control, they will be unable to meet all financial commitments unless the Agency payment is deferred; and (3) The borrower will be able to meet all financial commitments, including (d) (e) (i) The borrower must submit a completed Agency application form; (ii) If the borrower applies and is determined eligible for a land value and a rental value write-down

official document · source cfr-2024 · id 7:§ 770.10