Negligent loan servicing

Negligent loan servicing means the failure of a lender to perform those services that a reasonably prudent lender would perform in servicing (including liquidation of) its own portfolio of loans that are not guaranteed. The term includes the concepts of failure to act, not acting in a timely manner, and acting in a manner contrary to the manner in which a reasonably prudent lender would act.

Source

7 CFR § 5001.3

---

Scoping language

The following definitions are applicable to the capitalized terms used in this part.

---

Is this correct? or