7 CFR § 771.15 - Loan servicing.

---
identifier: "/us/cfr/t7/s771.15"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 771.15 - Loan servicing."
title_number: 7
title_name: "Agriculture"
section_number: "771.15"
section_name: "Loan servicing."
chapter_name: "FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE"
subchapter_number: "D"
subchapter_name: "SPECIAL PROGRAMS"
part_number: "771"
part_name: "BOLL WEEVIL ERADICATION LOAN PROGRAM"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 7 U.S.C. 1989; and Pub. L. 104-180, 110 Stat. 1569."
regulatory_source: "67 FR 59771, Sept. 24, 2002, unless otherwise noted."
cfr_part: "771"
---


# 771.15 Loan servicing.

(a) *Advances.* FSA may make advances to protect its financial interests and charge the borrower's account for the amount of any such advances.

(b) *Payments.* Payments will be made to FSA as set forth in loan agreements and debt instruments. The funds from extra payments will be applied entirely to loan principal.

(c) *Restructuring.* The provisions of 7 CFR part 766 are not applicable to loans made under this section. However, FSA may restructure loan debts; provided:

(1) The Government's interest will be protected;

(2) The restructuring will be performed within FSA budgetary restrictions; and

(3) The loan objectives cannot be met unless the loan is restructured.

(d) *Default.* In the event of default, FSA will take all appropriate actions to protect its interest.

[67 FR 59771, Sept. 24, 2002, as amended at 72 FR 64121, Nov. 15, 2007]