Interest Rate and Payments

Requirements

You must ensure any Third-Party FinancingThird-Party FinancingAny loan to, or indebtedness of, a Borrower that: is not a Supplemental Mortgage Loan or Pre-Existing Mortgage Loan; and either: requires repayment by the Borrower; or is forgiven (over time or at maturity) subject to Borrower compliance with certain covenants or conditions. …:

• has a fixed interest rate or no interest payable; and
• for non-Soft Financing, interest:
  • is payable on a current basis; and
  • does not defer or accrue.