1. Regulations
  2. title 24
  3. chapter IX
  4. part 1005
  5. subpart 60-61
  6. subjgrp 60
  7. § 1005.509

View all text of Subjgrp 60 [§ 1005.501 - § 1005.517]

§ 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