---
kind: "section"
citation: "7 C.F.R. § 3550.203"
title: "7"
number: "3550.203"
heading: "General servicing actions."
url: "https://uscodex.org/cfr/7/3550.203"
---

# §3550.203. General servicing actions.


Whenever any of the servicing actions described in this subpart result in reamortization of the account RHS may:

- (a) Require a borrower who currently makes annual payments, but receives a monthly income, to convert to monthly payments.
- (b) Require the creation and funding of an escrow account for real estate taxes and insurance, if one does not already exist for any borrower with monthly payments.
- (c) Convert the method of calculating interest for any account being charged daily simple interest to an amortized payment schedule.

## Notes

### Authority

Authority: 5 U.S.C. 301; 42 U.S.C. 1480.

### Source

Source: 61 FR 59779, Nov. 22, 1996, unless otherwise noted.