FSA-2242 Date of Modification (03-03-015)
Fld Name /
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Instruction |
1 Lender’s Name and Mailing Address |
Enter name and mailing address of the lender. |
2 Agency’s Name and Mailing Address |
Enter name and mailing address of FSA office servicing the loan. |
3 Holder’s Name, Mailing Address and Email Address |
Enter name and address of holder to whom the guarantee will be assigned and holder’s email address. |
4 Borrower Name |
Enter name of the borrower as appears on the promissory note. |
5 Loan Type |
Enter loan type, as stated on FSA 2235, Loan Guarantee. |
6 FSA Account Number |
Enter the number assigned to the borrower by FSA. Enter the state and county code and borrower’s system generated FSA ID number.
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7 Original Loan Amount |
Enter the original total amount of the loan. This amount should correspond with the promissory note. |
8 Date Promissory Note Executed |
Enter the date the guaranteed promissory note was executed. |
9 Amount of Principal Outstanding |
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10 |
Example: A lender assigning the entire remaining guaranteed portion of a $100,000 loan with a 90 percent guarantee and an outstanding balance of $80,000. (80,000 X 90% X 100% = $72,000). The guarantee has been issued for 90% of the original loan amount. The holder agrees to purchase, and the lender assigns 100% of the guaranteed portion of the loan representing $72,000 of such loan now outstanding. |
11 Servicing Fee |
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To be read by the Lender or authorized representative. Holders may also wish to read this part for informational purposes.
To be read by the Lender and Holder or their authorized representatives.
To be read by the Lender and Holder or their authorized representatives.
To be read by the Lender and Holder or their authorized representatives.
To be read by the Lender and Holder or their authorized representatives.
Fld Name /
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Instruction |
1 Name of Lender’s Represent-ative |
Print name of Lender’s Representative.
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2 Title |
Print the title of the Lender’s Representative. |
3 Signature of Lender’s Represent-ative |
Enter Lender Representative’s signature.
If you are mailing or faxing this form, print the form and manually enter your signature. If you have established credentials with FSA to submit forms electronically, use the buttons provided on the form for transmitting the form to the USDA servicing office. |
4 Date |
Enter the current date the form is signed in Item 3. |
Fld Name /
|
Instruction |
5 Agency Official |
Enter the Agency Official’s name. |
6 Title |
Enter the title of the Agency Official. |
7 Agency Official Signature |
Enter the Agency Official’s signature. |
8 Date |
Enter the current date the form is signed in Item 7. |
Part G - Signatures (to be completed by the Holder)
Fld Name /
|
Instruction |
9 Name of Holder’s Represent-ative |
Print the name of the employee of the firm that is purchasing the assignment. |
10 Title |
Print the title of the Holder’s Representative that signed the assignment. |
11 Signature of Holder’s Represent-ative |
A representative of the party to which the loan is being assigned by the lender will sign the form here. |
12 Date |
Enter the date that the form is signed by the Holder’s representative. |
File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
File Title | Instructions for FSA-2242 |
Subject | Assignment of Guarantee |
Author | FSA/DAFLP |
File Modified | 0000-00-00 |
File Created | 2022-02-15 |