[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: 7CFR1965.52]

[Page 353]
 
                          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 B--Security Servicing for Multiple Housing Loans
 
Sec.  1965.52  Definitions.

    (a) Borrowers. ``Borrowers'' means all individuals, partnerships, 
cooperatives, trusts, public agencies, private or public corporations, 
and other organizations which have received a loan or grant from FmHA or 
its successor agency under Public Law 103-354 for LH, RRH, RCH, or RHS 
purposes.
    (b) Case file. ``Case file'' includes the total cumulative records 
concerning a borrower.
    (c) District Director. For the purpose of this subpart, the term 
also includes the Assistant District Director, and other qualified 
District Office staff who may be delegated responsibilities under this 
subpart according to the provisions of Subpart F or Part 2006 (available 
in an FmHA or its successor agency under Public Law 103-354 office). 
Area Loan Specialists and Island Directors, and other qualified members 
of their staff in Alaska and Hawaii, respectively, are included in this 
definition. In the case of LH loans still being serviced in the County 
Office, this definition also includes qualified County Office staff.
    (d) FmHA or its successor agency under Public Law 103-354. ``FmHA or 
its successor agency under Public Law 103-354'' means the United States 
of America acting through the Farmers Home Administration or its 
successor agency under Public Law 103-354 of the United States 
Department of Agriculture; it also includes FmHA or its successor agency 
under Public Law 103-354's predecessor agencies.
    (e) Governing body. ``Governing body'' means those elected or 
appointed officials of an organization or public agency type borrower 
responsible for compliance with the security instruments and the 
operations of the project.
    (f) Mortgage. ``Mortgage'' also includes deeds of trust and similar 
real estate security instruments and, where appropriate, chattel 
security instruments.
    (g) Note. ``Note'' includes any note, bond, assumption agreement, or 
other evidence of indebtedness, including the obligations of LH grant 
only recipients operating under a grant agreement. All LH grant only 
recipients will be serviced in strict accordance with their grant 
agreement, appropriate program regulations, and this subpart.
    (h) OGC. ``OGC'' means the Regional Attorney or the Attorney in 
charge in the field office of the Office of General Counsel of the 
United States Department of Agriculture.
    (i) Servicing. ``Servicing'' includes the broad scope of activities 
undertaken by FmHA or its successor agency under Public Law 103-354 to 
see that the objectives of the loan are carried out; to assure 
compliance with the respective policies, procedures and authorizations 
set forth for each respective loan program; or to bring to a successful 
conclusion each loan or grant made by FmHA or its successor agency under 
Public Law 103-354 through transfer, sale, reamortization, payment or 
liquidation.