24 CFR 1005.509 - Application of payments.

Regulations last checked for updates: May 02, 2025

Title 24 - Housing and Urban Development last revised: Apr 20, 2025

View all text of Subpart 60 - 61 [§ 1005.501 - § 1005.529]

§ 1005.509 - Application of payments.

All monthly payments to be made by the Borrower to the Servicer shall be added together, and the aggregate amount shall be paid by the Borrower each month in a single payment by the Borrower, in accordance with the loan documents. The Servicer shall apply the Borrower's funds in accordance with § 1005.715.

authority: 12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)

source: 89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted.

cite as: 24 CFR 1005.509