§ 1639f. Requirements for prompt crediting of home loan payments
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/usc/title-15/section-1639fA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general In connection with a consumer credit transaction secured by a consumer’s principal dwelling, no servicer shall fail to credit a payment to the consumer’s loan account as of the date of receipt, except when a delay in crediting does not result in any charge to the consumer or in the reporting of negative information to a consumer reporting agency, except as required in subsection (b).
(b)Exception If a servicer specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the servicer shall credit the payment as of 5 days after receipt.
(Pub. L. 90–321, title I, § 129F, as added Pub. L. 111–203, title XIV, § 1464(a), July 21, 2010, 124 Stat. 2184.)
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- Pub. L. 90–321, title I, § 129F
- Pub. L. 111–203, title XIV, § 1464(a)
- 124 Stat. 2184
- section 1400(c) of Pub. L. 111–203
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§ 1639f
Requirements for prompt crediting of home loan payments
Fed. Reg.×7
Bills×3
Stat. Comp.×1
Stat.×1
Pub. L.Pub. L. 90–321, title I, § 129F
Pub. L.Pub. L. 111–203, title XIV, § 1464(a)
Stat.124 Stat. 2184
Pub. L.section 1400(c) of Pub. L. 111–203
Cites 5Cited by 12 across 4 sources