Partial Payments.

(a) A Servicer must have a written policy on how it handles Partial Payments, in compliance with this section and that policy shall be readily available to the public. (b) Upon receipt of a Partial Payment, a Servicer must provide the Borrower a copy of the Servicer's written Partial Payment policy and a letter explaining how it will handle the received Partial Payment. The Servicer may: (1) Accept a Partial Payment and either apply it to the Borrower's account; (2) Identify it with the Borrower's account number and hold it in a trust account pending disposition; or (3) Return the Partial Payment(s) to the Borrower.