source:
  type: regulation
  id: usda-7cfr-3555.204
  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204 — Security requirements
  description: '7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.204 Security requirements.
    Captured section-complete (all subsections verbatim).

    '
obligations:
- id: usda-7cfr-3555.204-full
  canonical_id: usda-7cfr-3555.204-full
  section: 7 CFR §3555.204
  description: 'Security requirements: Rural Development will only guarantee loans that are adequately secured.
    A loan will be considered adequately secured only when all of the following requirements are met:'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: 'Rural Development will only guarantee loans that are adequately secured. A loan will be considered
      adequately secured only when all of the following requirements are met:'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.204 (whole section) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.204-a
  canonical_id: usda-7cfr-3555.204-a
  section: 7 CFR §3555.204(a)
  description: 'Security requirements — (a): (a) Recorded security document. The lender obtains at closing, a mortgage
    on all required ownership and leasehold interests in the security property and ensures that the loan is properly
    closed.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (a) Recorded security document. The lender obtains at closing, a mortgage on all required ownership
      and leasehold interests in the security property and ensures that the loan is properly closed.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.204 subsection (a) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.204-b
  canonical_id: usda-7cfr-3555.204-b
  section: 7 CFR §3555.204(b)
  description: 'Security requirements — (b): (b) Prior liens. No liens prior to the guaranteed mortgage exist except
    in conjunction with a supplemental loan for transfer and assumption. The guaranteed loan must have first lien
    position at closing. Junior liens by other parties are permitted as long as the junior liens do not adversely
    affect r…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (b) Prior liens. No liens prior to the guaranteed mortgage exist except in conjunction with
      a supplemental loan for transfer and assumption. The guaranteed loan must have first lien position at closing.
      Junior liens by other parties are permitted as long as the junior liens do not adversely affect repayment
      ability or the security for the guaranteed loan.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.204 subsection (b) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.204-c
  canonical_id: usda-7cfr-3555.204-c
  section: 7 CFR §3555.204(c)
  description: 'Security requirements — (c): (c) Adequate security. Existing and proposed property improvements
    are completely on the site and do not encroach on adjoining property.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (c) Adequate security. Existing and proposed property improvements are completely on the site
      and do not encroach on adjoining property.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.204 subsection (c) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.204-d
  canonical_id: usda-7cfr-3555.204-d
  section: 7 CFR §3555.204(d)
  description: 'Security requirements — (d): (d) Collateral. All collateral secures the entire loan.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.204
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (d) Collateral. All collateral secures the entire loan.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.204 subsection (d) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
