(a) * * *
(2) A ``mortgage loan'' means:
(i) An open-end consumer credit transaction that is secured by the principal dwelling of a consumer; and
(ii) A closed-end consumer credit transaction secured by a dwelling or real property.
* * * * *
(d) Content of required disclosures. The disclosures required by this section shall identify the mortgage loan that was sold, assigned or otherwise transferred, and state the following, except that the information required by paragraph (d)(5) of this section shall be stated only for a mortgage loan that is a closed-end consumer credit transaction secured by a dwelling or real property other than a reverse mortgage transaction subject to Sec. 1026.33 of this part:
* * * * *
(5) Partial payment policy. Under the subheading ``Partial Payment'':
(i) If periodic payments that are less than the full amount due are accepted, a statement that the covered person, using the term ``lender,'' may accept partial payments and apply such payments to the consumer's loan;
(ii) If periodic payments that are less than the full amount due are accepted but not applied to a consumer's loan until the consumer pays the remainder of the full amount due, a statement that the covered person, using the term ``lender,'' may hold partial payments in a separate account until the consumer pays the remainder of the payment and then apply the full periodic payment to the consumer's loan;
(iii) If periodic payments that are less than the full amount due are not accepted, a statement that the covered person, using the term ``lender,'' does not accept any partial payments; and
(iv) A statement that, if the loan is sold, the new covered person, using the term ``lender,'' may have a different policy.
* * * * *