source:
  type: regulation
  id: usda-7cfr-3555.353
  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.353 — Net recovery value
  description: '7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.353 Net recovery value.
    Captured section-complete (all subsections verbatim).

    '
obligations:
- id: usda-7cfr-3555.353-full
  canonical_id: usda-7cfr-3555.353-full
  section: 7 CFR §3555.353
  description: 'Net recovery value: The net recovery value of the property is determined differently for properties
    that have been sold than for properties that remain in the lender''s inventory at the time the loss claim is
    filed.'
  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 § 3555.353
    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: The net recovery value of the property is determined differently for properties that have been
      sold than for properties that remain in the lender's inventory at the time the loss claim is filed.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.353 (whole section) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.353-a
  canonical_id: usda-7cfr-3555.353-a
  section: 7 CFR §3555.353(a)
  description: 'Net recovery value — (a): (a) For a property that has been sold. When a loss claim is filed on a
    property that was sold to a third party at the foreclosure sale or through an approved pre-foreclosure sale,
    net recovery value is calculated as follows: (1) The proceeds from the sale plus any other amounts recovered,
    minus (2) …'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.353
    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) For a property that has been sold. When a loss claim is filed on a property that was sold
      to a third party at the foreclosure sale or through an approved pre-foreclosure sale, net recovery value is
      calculated as follows: (1) The proceeds from the sale plus any other amounts recovered, minus (2) The amount
      of actual liquidation and disposition costs provided those costs are reasonable and customary for the area.
      Costs incurred by in-house staff may not be included.'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.353 subsection (a) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.353-b
  canonical_id: usda-7cfr-3555.353-b
  section: 7 CFR §3555.353(b)
  description: 'Net recovery value — (b): (b) For a property that has been acquired. When a loss claim is filed
    on a property acquired by the lender through a foreclosure sale or a deed-in-lieu of foreclosure, the net recovery
    value is based on an estimated sales price calculated using a market value appraisal along with holding and
    disposi…'
  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 § 3555.353
    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) For a property that has been acquired. When a loss claim is filed on a property acquired
      by the lender through a foreclosure sale or a deed-in-lieu of foreclosure, the net recovery value is based
      on an estimated sales price calculated using a market value appraisal along with holding and disposition costs
      calculated using the acquisition and management factor (also known as the VA Net Value Factor) published by
      the VA, and other factors as determined by the Agency. The lender must submit a loss claim package, including
      a market value appraisal, within 60 days of the foreclosure sale date or the date the lender acquires title.
      If eviction action is required in order to obtain a market value appraisal, the lender must submit the loss
      claim package, including the market value appraisal, within 60 days of the date the occupants clear the premises
      and in accordance with other requirements of this subpart. with any loss claim request in accordance with
      subpart H. [78 FR 73941, Dec. 9, 2013, as amended at 81 FR 31165, May 18, 2016; 84 FR 70887, Dec. 26, 2019]
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.353 subsection (b) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
