If an association changes the interest rate on any instrument evidencing a loan covered by Civil Code Section 1916.5 or 1916.6 and these regulations, it shall at least 30 days prior to the effective date of the change notify the borrower in writing of the change, the effect, if any, on the amount of the installment payments, and the effect, if any, on the number of installment payments required to pay the remaining balance of the loan. If the change increases the interest rate the association shall also inform the borrower of his right to prepay all or part of the loan within 90 days of the notice, without a prepayment charge. The notice required under this section shall be deemed given when it is deposited in the United States mail, postage prepaid, addressed to the person or persons personally liable on the loan, as those persons' names and addresses appear on the association's records at the time of giving the notice.