{"identifier":"/us/usc/t15/s1639f","title":15,"num":"\u00a7\u202f1639f.","heading":"Requirements for prompt crediting of home loan payments","text":"\u00a7\u202f1639f.\nRequirements for prompt crediting of home loan payments\n(a)\nIn general\nIn connection with a consumer credit transaction secured by a consumer\u2019s principal dwelling, no servicer shall fail to credit a payment to the consumer\u2019s loan account as of the date of receipt, except when a delay in crediting does not result in any charge to the consumer or in the reporting of negative information to a consumer reporting agency, except as required in subsection (b).\n(b)\nException\nIf a servicer specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the servicer shall credit the payment as of 5 days after receipt.","url":"https://projectusc.org/usc/t15/s1639f.html","content":[{"t":"sec","id":"/us/usc/t15/s1639f","children":[{"t":"num","text":"\u00a7\u202f1639f."},{"t":"heading","text":"Requirements for prompt crediting of home loan payments"},{"t":"subsec","id":"/us/usc/t15/s1639f/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"In connection with a consumer credit transaction secured by a consumer\u2019s principal dwelling, no servicer shall fail to credit a payment to the consumer\u2019s loan account as of the date of receipt, except when a delay in crediting does not result in any charge to the consumer or in the reporting of negative information to a consumer reporting agency, except as required in subsection (b).","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t15/s1639f/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Exception"},{"t":"content","children":[{"t":"p","text":"If a servicer specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the servicer shall credit the payment as of 5 days after receipt.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}