§4279.222. Payments.
7 C.F.R. § 4279.222
A Lender will receive all payments of principal and Interest on account of the entire loan and must promptly remit to the Holder its Pro Rata share of any payment within 30 days of the Lender's receipt thereof from the Borrower, determined according to its respective interest in the loan, less only the Lender's servicing fee.
Notes, amendments, and revision history
Source
Source: 80 FR 36425, June 24, 2015, unless otherwise noted.
Authority
Authority: 5 U.S.C. 301; 7 U.S.C. 1989: 7 U.S.C. 1932(a); and Public Law 116-136, Division B, Title I.
Source
Source: 61 FR 67633, Dec. 23, 1996, unless otherwise noted.