USDA HB-1-3555 ch04 bootstrap

usda-hb-3555-ch04

Bootstrap for USDA HB-1-3555 ch04 register.

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source:
  type: regulation
  id: usda-hb-3555-ch04
  authority: USDA HB-1-3555 ch04 bootstrap
  description: Bootstrap for USDA HB-1-3555 ch04 register.
obligations:
  - id: usda-hb-3555-ch04-collect-payments-pay-tax-insurance
    canonical_id: usda-hb-3555-ch04-collect-payments-pay-tax-insurance
    section: USDA HB-1-3555 Ch. 4.4 — Collect Loan Payments and Ensure Payment of Taxes and Insurance
    description: |
      The servicing [LENDER], or their representative, must collect
      the borrower's monthly payment and apply the funds to the
      borrower's account in accordance with the terms of the
      promissory note and mortgage. The servicing [LENDER] must
      maintain first lien position and ensure that real estate taxes
      and hazard insurance premiums are paid when they are due.
    type: do
    audit_question: For every USDA SFHGLP-guaranteed loan it services, can [LENDER] evidence (i) collection of the borrower's monthly payment and application of the funds in accordance with the promissory note and mortgage, (ii) maintenance of first lien position, and (iii) that real estate taxes and hazard insurance premiums were paid when due?
    program_review: Does the servicing program collect and apply payments per the note and mortgage, maintain first-lien position, and ensure real estate taxes and hazard insurance are paid when due?
    file_review: Pull a serviced-loan sample; confirm payment application, first-lien maintenance, and timely tax/insurance disbursement.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: compliance_officer
    secondary_owner_role: default_servicing_analyst
    cadence: continuous
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch04
      - lender-responsibilities
      - servicing
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 4.4 — Collect Loan Payments and Ensure Payment of Taxes and Insurance
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter04.pdf
      snapshot_id: 5e55d0368d5b464d
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7108b0809aa3c97bf50649692ef10e6b986e6ba30c1d95d7e477f9e90b938e00
      paragraph_quote: The servicing lender, or their representative, must collect the borrower
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 5e55d0368d5b464d (Ch 04) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:24:33+00:00'
    promoted_from: usda-hb-3555-ch04-roundb-v1.yaml
  - id: usda-hb-3555-ch04-sell-only-to-approved-lenders
    canonical_id: usda-hb-3555-ch04-sell-only-to-approved-lenders
    section: USDA HB-1-3555 Ch. 4.6 — Sell Loans Only to Approved Lenders [7 CFR 3555.54]
    description: |
      A SFHGLP loan may be sold only to an Agency-approved [LENDER],
      Fannie Mae, or Freddie Mac. The selling lender must report any
      guaranteed loan sale to the Agency by using Form RD 3555-11,
      Lender Record Change. If the loan is sold to a party not
      approved to participate in the SFHGLP, the Loan Note Guarantee
      will be considered invalid.
    type: dont
    audit_question: For every USDA SFHGLP-guaranteed loan it sells, can [LENDER] evidence (i) that the purchaser was an Agency-approved lender, Fannie Mae, or Freddie Mac, and (ii) that the sale was reported to the Agency on Form RD 3555-11, Lender Record Change?
    program_review: Does the program prevent any SFHGLP loan sale to a party other than an Agency-approved lender, Fannie Mae, or Freddie Mac, and ensure each sale is reported to the Agency on Form RD 3555-11 (sale to a non-approved party voids the guarantee)?
    file_review: Pull sold loans; confirm the purchaser was approved/FNMA/FHLMC and that Form RD 3555-11 was filed.
    judgment: false
    feeds: []
    workflow_phase: post_closing
    owner_role: compliance_officer
    secondary_owner_role: default_servicing_analyst
    cadence: per_event
    consequence: Sale to a non-approved party invalidates the Loan Note Guarantee.
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch04
      - loan-sales
      - guarantee-validity
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 4.6 — Sell Loans Only to Approved Lenders
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter04.pdf
      snapshot_id: 5e55d0368d5b464d
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7108b0809aa3c97bf50649692ef10e6b986e6ba30c1d95d7e477f9e90b938e00
      paragraph_quote: A SFHGLP loan may be sold only to an Agency-approved lender, Fannie Mae, or
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 5e55d0368d5b464d (Ch 04) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:24:33+00:00'
    promoted_from: usda-hb-3555-ch04-roundb-v1.yaml
  - id: usda-hb-3555-ch04-report-significant-changes
    canonical_id: usda-hb-3555-ch04-report-significant-changes
    section: USDA HB-1-3555 Ch. 4.7 — Report Significant Changes
    description: |
      [LENDER] must immediately inform the Agency, in writing, of
      significant changes in its structure or status. Failure to
      keep the Agency informed of changes in accordance with Form
      RD 3555-16 could lead to withdrawal of approval. Significant
      changes include name/location/tax-ID/corporate-structure
      changes, fidelity-bond/E&O changes, insolvency, bankruptcy,
      cessation of operations, Federal-debt delinquency, debarment
      /suspension/sanction, and voluntary withdrawal.
    type: notify
    audit_question: When any significant change in [LENDER]'s structure or status occurred (name/location/address/tax-ID/corporate structure, fidelity bond / E&O coverage, insolvency, bankruptcy, cessation of operations / discontinuance of servicing the SFHGLP portfolio, Federal-debt delinquency, debarment / suspension / sanction, or voluntary withdrawal), can [LENDER] evidence that the Agency was immediately informed in writing?
    program_review: Does the program account for the §4.7 significant-change list (name/location/tax-ID/corporate structure, fidelity-bond/E&O, insolvency, bankruptcy, cessation of operations, federal-debt delinquency, debarment/suspension/sanction, voluntary withdrawal) and immediately inform the Agency in writing (Form RD 3555-16) when one occurs?
    file_review: 'Entity-level check: where a significant change occurred, confirm immediate written Agency notification. The officer judges whether a borderline corporate event qualified as a reportable ''significant change.'''
    judgment: true
    feeds: []
    workflow_phase: post_closing
    owner_role: compliance_officer
    secondary_owner_role: loan_officer
    cadence: per_event
    consequence: Failure to inform the Agency could lead to withdrawal of approval.
    tags:
      - round-b
      - regulator-direct
      - usda
      - hb-1-3555
      - ch04
      - reporting
      - significant-changes
      - promoted
    primary_source:
      tier: 1
      authority: USDA HB-1-3555 Chapter 4.7 — Report Significant Changes
      source_class: usda-handbook-hb-1-3555
      source_url: https://www.rd.usda.gov/sites/default/files/3555-1chapter04.pdf
      snapshot_id: 5e55d0368d5b464d
      fetched_at: '2026-05-23T01:50:00Z'
      content_hash: sha256:7108b0809aa3c97bf50649692ef10e6b986e6ba30c1d95d7e477f9e90b938e00
      paragraph_quote: The lender must immediately inform the Agency, in writing, of significant changes in
      drafter_attestation: Copied verbatim from USDA HB-1-3555 snapshot 5e55d0368d5b464d (Ch 04) at 2026-05-23. Source PDF retrieved via Wayback Machine.
    promoted_at: '2026-05-23T13:24:33+00:00'
    promoted_from: usda-hb-3555-ch04-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T13:24:33+00:00'
    candidate_path: obligations\_remediation\_round_b_drafts\usda-hb-3555-ch04-roundb-v1.yaml
    candidates_promoted: 3
    candidates_skipped_existing: 0

Verbatim regulatory text (3)

Verbatim provisions from USDA HB-1-3555 ch04 bootstrap — 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.

USDA HB-1-3555 Ch. 4.4 — Collect Loan Payments and Ensure Payment of Taxes and Insurance

The servicing lender, or their representative, must collect the borrower

Source: USDA HB-1-3555 Chapter 4.4 — Collect Loan Payments and Ensure Payment of Taxes and Insurance · source URL · snapshot 5e55d0368d5b464d

USDA HB-1-3555 Ch. 4.6 — Sell Loans Only to Approved Lenders [7 CFR 3555.54]

A SFHGLP loan may be sold only to an Agency-approved lender, Fannie Mae, or

Source: USDA HB-1-3555 Chapter 4.6 — Sell Loans Only to Approved Lenders · source URL · snapshot 5e55d0368d5b464d

USDA HB-1-3555 Ch. 4.7 — Report Significant Changes

The lender must immediately inform the Agency, in writing, of significant changes in

Source: USDA HB-1-3555 Chapter 4.7 — Report Significant Changes · source URL · snapshot 5e55d0368d5b464d