Not known Factual Statements About 922 loans
Not known Factual Statements About 922 loans
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referring to prepayment of loans were being established out being a Be aware less than part 936 of this title and had been repealed by
(one) A borrower is not going to qualify for prepayment under this segment if, from the viewpoint of the Secretary with the Treasury, to prepay in these kinds of borrower's situation would adversely have an affect on the Procedure with the Federal Financing Bank.
In case the Secretary as well as Federal Funding Bank approve this kind of an extension, then the period of the prevailing warranty shall also be viewed as extended.
The Secretary might not generate a payment help financial loan under paragraph (2)(B) to an entity obtaining a grant under this segment that may be also the receiver of the personal loan under subchapter I or II that is definitely associated with these types of grant.
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(4) The Secretary shall undertake all sensible attempts to permit the complete amount of deferments authorized by this subsection for the duration of Every single fiscal calendar year.
(i) the amount of quarterly payment dates between the date of your refinancing or prepayment along with the maturity date for that mortgage advance; bears to
The Secretary may well not involve an entity that proposes to possess a subscriber projection of below 20 p.c on the broadband assistance market place within a rural area to post to your Secretary a market place study.
The Secretary shall make insured phone loans, on the extent of qualifying programs for that loans, at an fascination charge of five percent each year, to any applicant who satisfies Every single of the following specifications:
(II) When the applicant for your read more mortgage helps make an election pursuant to subparagraph (D) to incorporate while in the financial loan arrangement the best of the applicant to prepay the loan, a level equal to the quantity by which—
(i) The typical quantity of subscribers per mile of line in the assistance location on the applicant is not greater than fifteen, or perhaps the applicant is capable of producing Web cash flow or margins ahead of curiosity of not below 100 percent (although not a lot more than 500 per cent) in the interest prerequisites on most of the exceptional and proposed loans from the applicant.
The Secretary is approved and empowered to bid for and purchase at any foreclosure or other sale, or if not to acquire, assets pledged or mortgaged to secure any personal loan manufactured pursuant to this chapter; to pay the purchase value and any costs and charges incurred in connection therewith with the sums authorized in part 903 of this title; to simply accept title to any home so procured or acquired from the identify of The us of America; to work or lease these types of house for these types of period as can be deemed vital or a good idea to safeguard the investment decision therein, although not to exceed 5 years once the acquisition thereof; and also to offer this kind of house so ordered or obtained, on this kind of phrases and for such consideration since the Secretary shall ascertain to generally be reasonable.
(two) deobligate any awards, much less allowable charges that reveal an insufficient standard of functionality (such as metrics determined by the Secretary) or fraudulent paying out, to the extent funds with respect for the award can be found in the account relating to the program set up by this subchapter;
, That these kinds of refinancing shall represent not in excess of 40 for each centum of any mortgage produced below this subchapter."