Transcription of CHAPTER 18: NON-PERFORMING LOANS - USDA Rural …
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CHAPTER 18: NON-PERFORMING LOANS - USDA Rural …
HB-1-3555 18-1 (03-09-16) SPECIAL PN (03-09-16) SPECIAL PN Revised (07-02-18) PN 514 CHAPTER 18: SERVICING NON-PERFORMING LOANS ACCOUNTS WITH REPAYMENT PROBLEMS 7 CFR INTRODUCTION The servicer is required to employ an experienced and knowledgeable staff, follow accepted industry servicing practices, and maintain a servicing platform that keeps records of all servicing actions. Servicers are fully responsible for complying with this CHAPTER regardless of any sub-servicing arrangements. Appendix 8 of this Handbook outlines the servicer s responsibility to report to the Agency all delinquent LOANS and quarterly portfolio reports through EDI.
Chapter regardless of any sub-servicing arrangements. Chapter 17 of this Handbook outlines the servicer’s responsibility to report to the Agency all loans through Electronic Status Reporting (ESR). When a loan becomes past due, the servicer must take prompt and aggressive action to help the borrower bring the account current.
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