# 7 CFR § 1962.2: Policy

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.2

## Section

- **Citation:** 7 CFR § 1962.2
- **Heading:** Policy
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 7—Agriculture > Subtitle B—Regulations of the Department of Agriculture > CHAPTER XVIII—RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE > SUBCHAPTER H—PROGRAM REGULATIONS > PART 1962—PERSONAL PROPERTY > Subpart A—Servicing and Liquidation of Chattel Security

## Text

Chattel security, EO property and note only loans will be serviced to accomplish the loan objectives and protect Rural Development's financial interest. To accomplish these objectives, security will be serviced in accordance with the security instruments and related agreements, including any authorized modifications, provided the borrower has reasonable prospects of accomplishing the loan objectives, properly maintains and accounts for the security, and otherwise satisfactorily meets the loan obligations including repayment.

## Nearby sections

- [7 CFR § 1962.1 § 1962.1 Purpose.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.1.md)
- [7 CFR § 1962.2 § 1962.2 Policy.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.2.md)
- [7 CFR § 1962.3 § 1962.3 Authorities and responsibilities.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.3.md)
- [7 CFR § 1962.4 § 1962.4 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.4.md)
- [7 CFR § 1962.6 § 1962.6 Liens and assignments on chattel property.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.6.md)
- [7 CFR § 1962.7 § 1962.7 Securing unpaid balances on unsecured loans.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.7.md)
- [7 CFR § 1962.8 § 1962.8 Liens on real estate for additional security.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.8.md)
- [7 CFR § 1962.13 § 1962.13 Notification to potential purchasers.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.13.md)
- [7 CFR § 1962.14 § 1962.14 Account and security information in UCC cases.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.14.md)
- [7 CFR § 1962.16 § 1962.16 Accounting by County Supervisor.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.16.md)
- [7 CFR § 1962.17 § 1962.17 Disposal of chattel security, use of proceeds and release of lien.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.17.md)
- [7 CFR § 1962.18 § 1962.18 Unapproved disposition of chattel security.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.18.md)
- [7 CFR § 1962.19 § 1962.19 Claims against Commodity Credit Corporation (CCC).](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.19.md)
- [7 CFR § 1962.26 § 1962.26 Correcting errors in security instruments.](https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.26.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-7-1962.2. Check the current official text before relying on it. Not legal advice.