# 7 C.F.R. § 5001.502 (2026): Oversight and monitoring > Federal · Regulations · In force URL: https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_502 ## Section - **Citation:** 7 C.F.R. § 5001.502 (2026) - **Heading:** Oversight and monitoring - **Jurisdiction:** Federal - **Kind:** Regulations - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Title 7 CFR: Agriculture / Chapter L: RURAL BUSINESS-COOPERATIVE SERVICE, RURAL HOUSING SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE / Part 5001: GUARANTEED LOANS / Subpart F: Servicing Provisions / § 5001.502: § 5001.502 Oversight and monitoring. ## Text The Agency will employ various oversight and monitoring activities in order to ensure compliance with this part. All lenders involved in any manner with any loan note guarantee issued under this part or under a loan note guaranteed previously issued under a guaranteed loan program identified in § 5001.1 of this part must cooperate fully with the Agency in its oversight and monitoring efforts, including, but not necessarily limited to, those identified in paragraphs (a) through (c) of this section. (a) Reports and notifications. Lenders must submit to the Agency reports and notifications as required by this part. To facilitate the Agency's oversight and monitoring including, but not necessarily limited to, those identified in paragraphs (a)(1) through (4), as applicable, of this section. (1) Status reports. No less than semi-annual status reports as of June 30 and December 31 each year (unless more frequent reports are needed as determined by the Agency to protect the financial interests of the government) regarding the condition of the lender's guaranteed loan portfolio (including borrower status and loan classification) and any material change in the general financial condition of any borrower since the last report was submitted. The lender must submit these reports within 30 calendar days after the reporting period, using the appropriate Agency online reporting system. (2) Default reports. Monthly default reports for each guaranteed loan in monetary default using the appropriate Agency online reporting system are due on the 15th working day of each month. (3) Notifications. The lender(s) must notify the Agency by written notification within 15 calendar days of any: 30 calendar days after the reporting period, using the appropriate Agency online reporting system. (2) Default reports. Monthly default reports for each guaranteed loan in monetary default using the appropriate Agency online reporting system are due on the 15th working day of each month. (3) Notifications. The lender(s) must notify the Agency by written notification within 15 calendar days of any: (i) Loan agreement violation by any borrower, including when the borrower is 30 days past due or is otherwise in default of the covenants in the loan agreement; (ii) Permanent or temporary reduction in the interest rate; (iii) Downgrade in the lender's loan classification of any guaranteed loan; and (iv) Protective advances in accordance with § 5001.516. (4) Collection activities report. If a lender is liquidating the assets of a borrower, the lender must also evaluate and provide a report of collection activities regarding the collectability of personal and corporate guarantees. (b) Records —(1) Lenders. Upon request by the Agency, the lender must permit representatives of the Agency (or other authorized persons) to inspect and make copies of any of the records of the lender pertaining to each guaranteed loan issued under this part or previously issued under one of the programs identified in § 5001.1 of this part. Such inspection and copying may be made during regular office hours of the lender or at any other time the lender and the Agency agree upon. (2) Borrowers. Except as provided by law, upon request by the Agency, the borrower must permit representatives of the lender (or other authorized persons) to inspect and make copies of any of the records relating to the borrower's project. Such inspection and copying may be made during regular office hours of the borrower or at any other time agreed upon between the borrower and the lender. upon. (2) Borrowers. Except as provided by law, upon request by the Agency, the borrower must permit representatives of the lender (or other authorized persons) to inspect and make copies of any of the records relating to the borrower's project. Such inspection and copying may be made during regular office hours of the borrower or at any other time agreed upon between the borrower and the lender. (c) Agency and lender conference. When requested by the Agency, the lender must consult with the Agency to ascertain how the guaranteed loan is being serviced and that the conditions and covenants of the loan agreement are being enforced. (d) Access to the project. Until the loan note guarantee is terminated, the borrower must allow the lender and therefore the Agency access to the project and its performance information and permit periodic inspections of the project by an authorized representative of the lender or the Agency. [85 FR 42518, July 14, 2020, as amended at 89 FR 79727, Sept. 30, 2024] ## Nearby sections - [7 C.F.R. § 5001.501 (2026) § 5001.501 General.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_501.md) - [7 C.F.R. § 5001.502 (2026) § 5001.502 Oversight and monitoring.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_502.md) - [7 C.F.R. § 5001.503 (2026) § 5001.503 REAP RES or EEI project completion requirements.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_503.md) - [7 C.F.R. § 5001.504 (2026) § 5001.504 Financial reports.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_504.md) - [7 C.F.R. § 5001.505 (2026) § 5001.505 Collateral inspection and release.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_505.md) - [7 C.F.R. § 5001.506 (2026) § 5001.506 Loan transfers and assumptions.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_506.md) - [7 C.F.R. § 5001.507 (2026) § 5001.507 Lender transfer.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_507.md) - [7 C.F.R. § 5001.508 (2026) § 5001.508 Mergers.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_508.md) - [7 C.F.R. § 5001.509 (2026) § 5001.509 Servicing fees.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_509.md) - [7 C.F.R. § 5001.510 (2026) § 5001.510 Subordination of lien position.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_510.md) - [7 C.F.R. § 5001.511 (2026) § 5001.511 Repurchases from holders.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_511.md) - [7 C.F.R. § 5001.512 (2026) § 5001.512 Additional expenditures and loans.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_512.md) - [7 C.F.R. § 5001.513 (2026) § 5001.513 Interest rate changes.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_513.md) - [7 C.F.R. § 5001.514 (2026) § 5001.514 Lender failure.](https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_514.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T7_P5001_S5001_502. Check the current official text before relying on it. Not legal advice.