Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 7 - Agriculture |
Subtitle B - Regulations of the Department of Agriculture |
Chapter VII - Farm Service Agency, Department of Agriculture |
SubChapter D - Special Programs |
Part 765 - Direct Loan Servicing - Regular |
Subpart D - Borrower Payments |
§ 765.154 - Distribution of payments.
Latest version.
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§ 765.154 Distribution of payments.
The Agency applies both regular and extra payments to each loan in the following order, as applicable:
(a) Recoverable costs and protective advances plus interest;
(b) Deferred non-capitalized interest;
(c) Accrued deferred interest;
(d) Interest accrued to date of payment; and
(e) Loan principal.