---
kind: "section"
citation: "7 C.F.R. § 3560.402"
title: "7"
number: "3560.402"
heading: "Loan payment processing."
url: "https://uscodex.org/cfr/7/3560.402"
---

# §3560.402. Loan payment processing.

- (a) **Predetermined Amortization Schedule System (PASS) requirements.** All loans, except the loans specified in [paragraph (c)](#c) of this section, must be closed and serviced using the PASS.
- (b) **Required conversion to PASS.** Borrowers with Daily Interest Accrual System (DIAS) accounts must convert to PASS with any loan servicing action.
- (c) **Exceptions.** Seasonal farm labor housing loans and on-farm labor housing loans may be closed on DIAS, monthly, or annual payment schedules.

## Notes

### Amendments

[69 FR 69106, Nov. 26, 2004, as amended at 87 FR 11286, Mar. 1, 2022]

### Authority

Authority: 42 U.S.C. 1480.

### Source

Source: 69 FR 69106, Nov. 26, 2004, unless otherwise noted.

### Amendments

[69 FR 69106, Nov. 26, 2004, as amended at 87 FR 11286, Mar. 1, 2022]