[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: 7CFR1965.5]



[Page 287]

 

                          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.