; and (3) the Secretary receives a secured interest in the property, subordinate to the first lien guaranteed loan, serving as collateral for the guaranteed loan. (c) Administration of partial claim (1) Amount of claim The amount of a partial claim under this section with respect to a loan guaranteed under this chapter may not exceed 30 percent of the unpaid principal balance of the guaranteed loan as of the date that the initial partial claim is made. (2) Application of claim A holder of a loan guaranteed under this chapter who receives a partial claim under this section with respect to such loan shall apply the payment first to arrearages, if any, on the guaranteed loan, which may include any additional costs (such as taxes, insurance premiums, or homeowner’s dues) the Secretary determines necessary to prevent or resolve a default. (3) No advance on loan guaranty The Secretary may not structure a partial claim under this section as an advance on a loan guaranty provided under this chapter. (4) Expenses Expenses related to a partial claim under this section, including administrative expenses associated with such partial claim, may not be charged to the borrower of the guaranteed loan with respect to which the partial claim is paid. (d) Requirements of loan holder (1) Agent of Secretary The Secretary may require the holder of a loan guaranteed under this chapter who receives a partial claim under this section to service the partial claim as an agent of the Secretary. (2) Establishment of claim The Secretary may require the holder of a loan guaranteed under this chapter who receives a partial claim under this section to take any actions necessary to establish the partial claim, including preparing, executing, transmitting, receiving, and recording loan documents. (3) Compensation of holder The Secretary shall compensate the holder of a loan guaranteed under this chapter who receives a partial claim under this section appropriately, as determined by the Secretary, for the services required of such holder under this