20 U.S.C. § 1086 - Delegation of functions

20 USC 1086 - Delegation of functions

(a) In general 
An eligible lender or guaranty agency that contracts with another entity to perform any of the lenders or agencys functions under this subchapter and part C of subchapter I of chapter 34 of title 42, or otherwise delegates the performance of such functions to such other entity
(1) shall not be relieved of the lenders or agencys duty to comply with the requirements of this subchapter and part C of subchapter I of chapter 34 of title 42; and
(2) shall monitor the activities of such other entity for compliance with such requirements.
(b) Special rule 
A lender that holds a loan made under this part in the lenders capacity as a trustee is responsible for complying with all statutory and regulatory requirements imposed on any other holder of a loan made under this part.

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