7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges

usda-7cfr-3555-253

7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.253 Late payment charges. Captured section-complete (all subsections verbatim).

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source:
  type: regulation
  id: usda-7cfr-3555.253
  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 — Late payment charges
  description: |
    7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.253 Late payment charges. Captured section-complete (all subsections verbatim).
obligations:
  - id: usda-7cfr-3555.253-full
    canonical_id: usda-7cfr-3555.253-full
    section: 7 CFR §3555.253
    description: 'Late payment charges: Late payment charges will not be covered by the guarantee and cannot be added to the principal and interest due under any guaranteed note.'
    type: do
    audit_question: ''
    program_review: ''
    file_review: ''
    judgment: false
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    cadence: ''
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    primary_source:
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      authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253
      source_class: ecfr-xml
      source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
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      paragraph_quote: Late payment charges will not be covered by the guarantee and cannot be added to the principal and interest due under any guaranteed note.
      drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.253 (whole section) from snapshot 60bd6fb03befa14c; substring-verified.
  - id: usda-7cfr-3555.253-a
    canonical_id: usda-7cfr-3555.253-a
    section: 7 CFR §3555.253(a)
    description: 'Late payment charges — (a): (a) Maximum amount. Any late payment charge must be reasonable and customary for the area.'
    type: do
    audit_question: ''
    program_review: ''
    file_review: ''
    judgment: false
    feeds: []
    workflow_phase: ''
    owner_role: ''
    secondary_owner_role: ''
    cadence: ''
    consequence: ''
    tags:
      - regulator-direct
      - gap-fill
      - section-complete
    primary_source:
      tier: 1
      authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253
      source_class: ecfr-xml
      source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
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      paragraph_quote: (a) Maximum amount. Any late payment charge must be reasonable and customary for the area.
      drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.253 subsection (a) from snapshot 60bd6fb03befa14c; substring-verified.
  - id: usda-7cfr-3555.253-b
    canonical_id: usda-7cfr-3555.253-b
    section: 7 CFR §3555.253(b)
    description: 'Late payment charges — (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.'
    type: dont
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    primary_source:
      tier: 1
      authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253
      source_class: ecfr-xml
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      paragraph_quote: (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.
      drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.253 subsection (b) from snapshot 60bd6fb03befa14c; substring-verified.

Verbatim regulatory text (3)

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.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c

7 CFR §3555.253(a)

(a) Maximum amount. Any late payment charge must be reasonable and customary for the area.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c

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.

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.253 · source URL · snapshot 60bd6fb03befa14c