Statutes, codes, and regulations
Code of Federal Regulations
Title 12 - BANKS AND BANKINGChapter VI - FARM CREDIT ADMINISTRATIONSubchapter B - FARM CREDIT SYSTEMPart 617 - BORROWER RIGHTS
Subpart G - RIGHT OF FIRST REFUSAL
Section 617.7605 - How should System institutions document whether the borrower had the financial resources to avoid foreclosure?

12 C.F.R. § 617.7605

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Current through September 30, 2024
Section 617.7605 - How should System institutions document whether the borrower had the financial resources to avoid foreclosure?

The right of first refusal applies only to borrowers who did not have the financial resources to avoid foreclosure or voluntary conveyance. A System institution must clearly document in its files whether the borrower had the resources to avoid foreclosure or voluntary conveyance.

12 C.F.R. § 617.7605