Us Code § 1092c - Simplification of lending process for borrowers
Full text of Us Code United States Code § 1092c — Simplification of lending process for borrowers, with citation guidance and answers to common questions.
§ 1092c. Simplification of lending process for borrowers
(a) All like loans treated as one
To the extent practicable, and with the cooperation of the borrower, eligible lenders shall treat all loans made to a borrower under the same section of part B as one loan and shall submit one bill to the borrower for the repayment of all such loans for the monthly or other similar period of repayment. Any deferments on one such loan will be considered a deferment on the total amount of all such loans.
(b) One lender, one guaranty agency
To the extent practicable, and with the cooperation of the borrower, the guaranty agency shall ensure that a borrower only have one lender, one holder, one guaranty agency, and one servicer with which to maintain contact.
(Pub. L. 89–329, title IV, §485C, as added Pub. L. 102–325, title IV, §488, July 23, 1992, 106 Stat. 624.)
About This Section
20 U.S.C. § 1092c is part of Title 20 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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