8 CRR-NY 2101.2NY-CRR
8 CRR-NY 2101.2
8 CRR-NY 2101.2
2101.2 Simplification of lending process for borrowers.
(a) All loans treated as one.
To the extent practicable, and with the cooperation of the borrower, lenders shall treat all FFEL Program loans made to a borrower 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 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 corporation shall ensure that a borrower only have one lender, one holder, one guaranty agency, and one servicer with which to make contact.
8 CRR-NY 2101.2
Current through July 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.