; and (2) after the Administrator determines such loans are compliant with this Act. (b) Limitations on amount (1) Maximum amount The amount of a payment described under subsection (a) shall not exceed the covered amount. (2) Aggregate limitation per individual The aggregate amount of payments made under this Act with respect to a single vulnerable borrower may not exceed $9,500. (c) Requirements on holders of qualified loans (1) Administrator fee With respect to any payments to holders of a qualified loan under this Act, the Administrator shall charge the holders of the loan a fee equal to 5 percent of the outstanding principal and interest due on the loan at the time the payment is made. (2) Requirements before payment No person may receive a payment under this Act with respect to a qualified loan unless they comply with the following: (A) At the time of the payment, the person commits to issuing or purchasing other qualified loans in an amount that is at least equal in value to the amount of such payment received. (B) The person forgives the remaining balance on the loan, along with any late fees or other fees related to the loan. (C) The person terminates any negative reporting to consumer reporting agencies with respect to the loan. (D) With respect to the borrower of the qualified loan, if the borrower applies for an extension of credit in the future, the person shall not take the borrower’s performance on the qualified loan into consideration for purposes of performing underwriting for such application. (E) The person provides for either forbearance or deferral options for distressed borrowers. 5. Notification to borrower before certain transfers of or collections on a qualified loan (a) In general With respect to any qualified loan (regardless of whether a payment is made with respect to the qualified loan under this Act), the holder of the qualified loan may not sell or otherwise transfer the loan, or attempt to collect on the loan if it is in default or delinquency, unless the holder has notified the