[Code of Federal Regulations]
[Title 7, Volume 14]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1965.5]

[Page 321]
 
                          TITLE 7--AGRICULTURE
 
   CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS--COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                         AGRICULTURE (CONTINUED)
 
PART 1965--REAL PROPERTY--Table of Contents
 
  Subpart A--Servicing of Real Estate Security for Farm Loan Programs 
                    Loans and Certain Note-Only Cases
 
Sec.  1965.5  Servicing certain insured Farm Ownership (FO) loans.

    (a) Servicing actions. When an insured FO mortgage running to the 
lender as mortgagee is not held by the FmHA or its successor agency 
under Public Law 103-354 under trust assignment, or declaration of 
trust, or in the insurance fund (called insured FO mortgage held by the 
lender in this subpart) and a written subordination or partial release 
or other servicing document is requested, the document will be executed 
by the holder on a form prepared or approved by OGC. In those cases, 
execution of the document will constitute consent.
    (b) Execution of documents. The County Supervisor is authorized to 
execute on behalf of the Government, all necessary forms, 
statisfactions, releases, and other documents required to complete any 
transactions in this subpart after the transaction has been approved by 
the appropriate approving official. The documents will be executed on 
behalf of the United States in the following form:
    (1) ``United States of America,'' when the mortgage names the United 
States as mortgagee, or when a mortgage running to the lender is not 
under a trust or declaration of trust and the note is held by the 
insurance fund.
    (2) ``United States of America, for Itself and as Trustee,'' when an 
FO mortgage is held by the FmHA or its successor agency under Public Law 
103-354 under a trust assignment or declaration of trust, regardless of 
whether the note is held by a lender or by the insurance fund.

[[Page 322]]