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Prepayment of taxes, insurance, and other expenses; advances to account of borrower: interest, time for repayment

The Secretary shall establish procedures under which borrowers under this subchapter are required to make periodic payments for the purpose of taxes, insurance, and other necessary expenses as the Secretary may deem appropriate. Notwithstanding any other provision of law, such payments shall not be considered public funds. The Secretary shall direct the disbursement of the funds at the appropriate time or times for the purposes for which the funds were escrowed. The Secretary shall pay the same rate of interest on escrowed funds as is required to be paid on escrowed funds held by other lenders in any State where State law requires payment of interest on escrowed funds, subject to appropriations to the extent that additional budget authority is necessary to carry out this sentence. If the prepayments made by the borrower are not sufficient to pay the amount due, advances may be made by the Secretary to pay the costs in full, which advances shall be charged to the account of the borrower, bear interest, and be payable in a timely fashion as determined by the Secretary. The Secretary shall notify a borrower in writing when loan payments are delinquent.

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statutes/42/1471.yaml

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Rules

farm_gross_annual_value_equivalent_1944_minimum

Parameter

source: 42 USC 1471(b)

- name: farm_gross_annual_value_equivalent_1944_minimum
  kind: parameter
  dtype: Money
  unit: USD
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: >-
              gross annual value of not less than the equivalent of a gross annual value of $400 in
              1944
  versions:
    - effective_from: '1961-01-01'
      formula: '400'

farm

Derived

source: 42 USC 1471(b)

- name: farm
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/42/1471
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: >-
              gross annual value of not less than the equivalent of a gross annual value of $400 in
              1944
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        land_operated_as_single_unit
        and land_used_for_production_of_one_or_more_agricultural_commodities
        and land_customarily_produces_or_is_capable_of_producing_commodities_for_sale_and_home_use
        and gross_annual_value_equivalent_1944 >= farm_gross_annual_value_equivalent_1944_minimum

adequate_dwelling

Derived

source: 42 USC 1471(b)

- name: adequate_dwelling
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: the term “adequate dwelling” means a decent, safe, and sanitary dwelling unit
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        dwelling_unit_is_decent
        and dwelling_unit_is_safe
        and dwelling_unit_is_sanitary

applicant_meets_resource_and_credit_conditions

Derived

source: 42 USC 1471(c)

- name: applicant_meets_resource_and_credit_conditions
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
  versions:
    - effective_from: '1961-01-01'
      formula: >-
        applicant_is_without_sufficient_resources_to_provide_necessary_housing_and_buildings

        and
        applicant_is_unable_to_secure_necessary_credit_from_other_sources_on_reasonably_fulfillable_terms

applicant_has_eligible_housing_or_refinancing_need

Derived

source: 42 USC 1471(c)

- name: applicant_has_eligible_housing_or_refinancing_need
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
  versions:
    - effective_from: '1961-01-01'
      formula: >-
        applicant_is_owner_of_farm_without_required_decent_safe_sanitary_dwelling_or_adequate_farm_buildings

        or
        applicant_is_owner_of_other_rural_real_estate_or_rural_resident_without_adequate_dwelling_related_facilities_or_adequate_farm_operation_buildings

        or
        applicant_is_elderly_or_handicapped_person_or_family_in_rural_area_without_adequate_dwelling_or_related_facility

        or
        applicant_is_owner_of_farm_or_other_rural_real_estate_needing_refinancing_of_indebtedness_described_in_subsection_a_clause_4

applicant_assistance_eligible

Derived

source: 42 USC 1471(c)

- name: applicant_assistance_eligible
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/42/1471#applicant_has_eligible_housing_or_refinancing_need
            output: applicant_has_eligible_housing_or_refinancing_need
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/42/1471#applicant_meets_resource_and_credit_conditions
            output: applicant_meets_resource_and_credit_conditions
            hash: sha256:local
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        applicant_has_eligible_housing_or_refinancing_need
        and applicant_meets_resource_and_credit_conditions

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us/statute/42/1471/e — Prepayment of taxes, insurance, and other expenses; advances to account of borrower: interest, time for repayment · Axiom

Prepayment of taxes, insurance, and other expenses; advances to account of borrower: interest, time for repayment

Official source

in view

Whole section

▸rulespec code

Shown source

statutes/42/1471.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/42/1471; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

farm_gross_annual_value_equivalent_1944_minimum

Parameter

source: 42 USC 1471(b)

- name: farm_gross_annual_value_equivalent_1944_minimum
  kind: parameter
  dtype: Money
  unit: USD
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: >-
              gross annual value of not less than the equivalent of a gross annual value of $400 in
              1944
  versions:
    - effective_from: '1961-01-01'
      formula: '400'

farm

Derived

source: 42 USC 1471(b)

- name: farm
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/42/1471
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: >-
              gross annual value of not less than the equivalent of a gross annual value of $400 in
              1944
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        land_operated_as_single_unit
        and land_used_for_production_of_one_or_more_agricultural_commodities
        and land_customarily_produces_or_is_capable_of_producing_commodities_for_sale_and_home_use
        and gross_annual_value_equivalent_1944 >= farm_gross_annual_value_equivalent_1944_minimum

adequate_dwelling

Derived

source: 42 USC 1471(b)

- name: adequate_dwelling
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: 42 USC 1471(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/42/1471
            excerpt: the term “adequate dwelling” means a decent, safe, and sanitary dwelling unit
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        dwelling_unit_is_decent
        and dwelling_unit_is_safe
        and dwelling_unit_is_sanitary

applicant_meets_resource_and_credit_conditions

Derived

source: 42 USC 1471(c)

- name: applicant_meets_resource_and_credit_conditions
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
  versions:
    - effective_from: '1961-01-01'
      formula: >-
        applicant_is_without_sufficient_resources_to_provide_necessary_housing_and_buildings

        and
        applicant_is_unable_to_secure_necessary_credit_from_other_sources_on_reasonably_fulfillable_terms

applicant_has_eligible_housing_or_refinancing_need

Derived

source: 42 USC 1471(c)

- name: applicant_has_eligible_housing_or_refinancing_need
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
  versions:
    - effective_from: '1961-01-01'
      formula: >-
        applicant_is_owner_of_farm_without_required_decent_safe_sanitary_dwelling_or_adequate_farm_buildings

        or
        applicant_is_owner_of_other_rural_real_estate_or_rural_resident_without_adequate_dwelling_related_facilities_or_adequate_farm_operation_buildings

        or
        applicant_is_elderly_or_handicapped_person_or_family_in_rural_area_without_adequate_dwelling_or_related_facility

        or
        applicant_is_owner_of_farm_or_other_rural_real_estate_needing_refinancing_of_indebtedness_described_in_subsection_a_clause_4

applicant_assistance_eligible

Derived

source: 42 USC 1471(c)

- name: applicant_assistance_eligible
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: 42 USC 1471(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/42/1471
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/42/1471#applicant_has_eligible_housing_or_refinancing_need
            output: applicant_has_eligible_housing_or_refinancing_need
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/42/1471#applicant_meets_resource_and_credit_conditions
            output: applicant_meets_resource_and_credit_conditions
            hash: sha256:local
  versions:
    - effective_from: '1961-01-01'
      formula: |-
        applicant_has_eligible_housing_or_refinancing_need
        and applicant_meets_resource_and_credit_conditions