Code of Federal Regulations · Section
§ 1005.509 — Application Of Payments
24 C.F.R. § 1005.509
View:
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.
Authorizing Statute
-
Administrative provisions42 U.S.C. § 3535
-
Minimum standards for residential mortgage loans15 U.S.C. § 1639c