[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR103.33]

[Page 310]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 103_LOAN GUARANTY, INSURANCE, AND INTEREST SUBSIDY--Table of Contents
 
                  Subpart F_Loan Servicing Requirements
 
Sec. 103.33  Are there reporting requirements?

    (a) The lender must periodically report the borrower's loan payment 
history so that BIA can recalculate the government's contingent 
liability. Loan payment history reports must be quarterly unless BIA 
provides otherwise for a particular loan. These reports can be in any 
format the lender desires, as long as they contain:
    (1) The lender's name;
    (2) The borrower's name;
    (3) A reference to BIA's Loan Guaranty Certificate or Loan Insurance 
Agreement number;
    (4) The lender's internal loan number; and
    (5) The date and amount of all loan balance activity for the 
reporting period.
    (b) If applicable, the lender must supply a calculation of any 
interest subsidy payments that are due, as indicated in Sec. 103.23.
    (c) If there is a transfer of any or all of the lender's ownership 
interest in the loan, the party receiving the ownership interest may be 
required to notify BIA, as indicated in Sec. Sec. 103.28 and 103.29.
    (d) If there is a default on the loan, the lender must notify BIA, 
as indicated in Sec. Sec. 103.35 and 103.36.
    (e) If the borrower ceases to qualify for a BIA-guaranteed or 
insured loan under Sec. 103.25(b), the lender must promptly notify BIA 
even if the lender does not pursue default remedies under Sec. Sec. 
103.35 and 103.36. This notice allows BIA to eliminate the guaranty or 
insurance coverage from its active recordkeeping system.
    (f) If the loan is prepaid in full, the lender must promptly notify 
BIA in writing so that BIA can eliminate the guaranty or insurance 
coverage from its active recordkeeping system.
    (g) If a lender changes its name, it should notify BIA in accordance 
with Sec. 103.11(c).