Whenever any of the servicing actions described in this subpart result in reamortization of the account RHS may:
- (a) Require a borrower who currently makes annual payments, but receives a monthly income, to convert to monthly payments.
- (b) Require the creation and funding of an escrow account for real estate taxes and insurance, if one does not already exist for any borrower with monthly payments.
- (c) Convert the method of calculating interest for any account being charged daily simple interest to an amortized payment schedule.