[Code of Federal Regulations]

[Title 7, Volume 14]

[Revised as of January 1, 2007]

From the U.S. Government Printing Office via GPO Access

[CITE: 7CFR1965.2]



[Page 286]

 

                          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.  1965.2  General policies.



    (a) The terms ``nonprogram (NP)'' and ``ineligible'' may be used 

interchangeably throughout this subpart but are identical in their 

meaning.

    (b) FmHA or its successor agency under Public Law 103-354 will 

service real estate security in a manner that best accomplishes the loan 

objectives and protects the Government's financial interest. To 

accomplish this, FmHA or its successor agency under Public Law 103-354 

will service the real estate security in accordance with the security 

instruments and related agreements, including any authorized 

modifications and the provisions of this subpart.

    (c) The Federal Equal Credit Opportunity Act prohibits creditors 

from discriminating against credit applicants on the basis of race, 

color, religion, national origin, sex, marital status, age (provided 

that the applicant has the capacity to enter into a binding contract); 

because all or part of the applicant's income is derived from any public 

assistance, program; or because the applicant has in good faith 

exercised any right under the Consumer Credit Protection Act. The 

Federal agency that administers compliance with this law is the Federal 

Trade Commission, Equal Credit Opportunity, Washington, DC 20580.

    (d) If the farm is situated in more than one State, county or 

parish, the loan will be serviced by the County Office servicing the 

county in which the borrower's residence is located. If the borrower is 

a corporaton, cooperative, partnership or joint operation or if the 

borrower's residence is not on the farm, the loan will be serviced by 

the County Office servicing the county in which the farm or a major 

portion of the farm is located.



[51 FR 13482, Apr. 21, 1986, as amended at 58 FR 52654, Oct. 12, 1993]