Title 15, Commerce and TradeRelease 119-110

§1639f Requirements for Prompt Crediting of Home Loan Payments

Title 15 › CHAPTER 41 — CONSUMER CREDIT PROTECTION › SUBCHAPTER I — CONSUMER CREDIT COST DISCLOSURE › Part B — Credit Transactions › § 1639f

Last updated Sep 22, 2026|Official source

Summary

If you have a mortgage on your main home, the company that manages your loan must apply a payment to your account on the day it gets the payment. They can only delay applying it if the delay causes no fees for you and does not hurt your credit report. If the company wrote rules about how you must make payments but still accepts a payment that doesn't follow those rules, it can apply that payment 5 days after it receives it.

Full Legal Text

Title 15, §1639f

Commerce and Trade, Source: USLM XML via OLRC

(a)In general

In connection with a consumer credit transaction secured by a consumer’s principal dwelling, no servicer shall fail to credit a payment to the consumer’s loan account as of the date of receipt, except when a delay in crediting does not result in any charge to the consumer or in the reporting of negative information to a consumer reporting agency, except as required in subsection (b).

(b)Exception

If a servicer specifies in writing requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the servicer shall credit the payment as of 5 days after receipt.

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the date on which final

Regulations

implementing such section take effect, or on the date that is 18 months after the designated transfer date if such

Regulations

have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as an

Effective Date

of 2010 Amendment note under section 1601 of this title.

Reference

Citations & Metadata

Citation

15 U.S.C. § 1639f

Title 15, Commerce and Trade

Last Updated

Sep 22, 2026

Release point: 119-110