7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.352 — Loss covered by the guarantee
7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.352 Loss covered by the guarantee. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.352 — Loss covered by the guarantee — 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 §3555.352
§ 3555.352 Loss covered by the guarantee. Subject to § 3555.351, the loss claim payment will be calculated as the difference between the Total Indebtedness on the loan and the Net Recovery Value calculated according to § 3555.353. The Total Indebtedness on the loan includes:
7 CFR §3555.352(a)
(a) Principal balance. The unpaid principal balance;
7 CFR §3555.352(b)
(b) Accrued interest. Accrued interest at the guaranteed loan note rate from the last day interest was paid by the borrower to the settlement date, as defined at § 3555.10;
7 CFR §3555.352(c)
(c) Additional interest. Additional interest on the unsatisfied principal accrued from the settlement date to the date the claim is paid, but not more than 60 days from the settlement date;
7 CFR §3555.352(d)
(d) Protective advances. Principal and interest for protective advances, as described in § 3555.303; and
7 CFR §3555.352(e)
(e) Liquidation costs. Reasonable and customary liquidation costs, such as attorney fees, market value appraisals, and foreclosure costs. Annual fees advanced by the lender to the Agency are ineligible for reimbursement when calculating the loss claim payment. [78 FR 73941, Dec. 9, 2013, as amended at 81 FR 31164, May 18, 2016; 84 FR 70886, Dec. 26, 2019]
Operationalizing 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.352 — Loss covered by the guarantee
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