24 CFR § 1005.723 - Partial Payments.

---
identifier: "/us/cfr/t24/s1005.723"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 1005.723 - Partial Payments."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "1005.723"
section_name: "Partial Payments."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "1005"
part_name: "LOAN GUARANTEES FOR INDIAN HOUSING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted."
cfr_part: "1005"
---


# 1005.723 Partial Payments.

(a) A Servicer must have a written policy on how it handles Partial Payments, in compliance with this section and that policy shall be readily available to the public.

(b) Upon receipt of a Partial Payment, a Servicer must provide the Borrower a copy of the Servicer's written Partial Payment policy and a letter explaining how it will handle the received Partial Payment. The Servicer may:

(1) Accept a Partial Payment and either apply it to the Borrower's account;

(2) Identify it with the Borrower's account number and hold it in a trust account pending disposition; or

(3) Return the Partial Payment(s) to the Borrower.