Home Foreclosures: 7 C.F.R. § 3555.304 Special servicing options
(a) General.
(1) Lenders must exhaust traditional servicing options outlined in this part or have determined that use of traditional servicing options would not resolve the delinquency, prior to special servicing options. Lenders must exhaust special servicing options prior to liquidation in accordance with §§ 3555.305 or 3555.306.
(2) Use of special loan servicing does not change the terms of the loan note guarantee.