7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges

usda-7cfr-3555-253

7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.253 Late payment charges. Captured section-complete (all subsections verbatim).

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Verbatim regulatory text (3)

Verbatim provisions from 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

7 CFR §3555.253

Late payment charges will not be covered by the guarantee and cannot be added to the principal and interest due under any guaranteed note.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c

7 CFR §3555.253(a)

(a) Maximum amount. Any late payment charge must be reasonable and customary for the area.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c

7 CFR §3555.253(b)

(b) Loans with interest assistance. The lender must not charge a late fee if the only unpaid portion of the borrower's scheduled payment is interest assistance owed by Rural Development.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c

Operationalizing 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges

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Source of record: https://claudeforcompliance.com/regs/usda-7cfr-3555-253/ · register usda-7cfr-3555-253 · Claude for Compliance. Free to read and download; see regulatory updates and methodology.