7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges
7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.253 Late payment charges. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
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.
7 CFR §3555.253(a)
(a) Maximum amount. Any late payment charge must be reasonable and customary for the area.
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.
Operationalizing 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges
This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.
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.