24 CFR 1007.55 - Guarantee fee.

Regulations last checked for updates: May 19, 2024

Title 24 - Housing and Urban Development last revised: May 07, 2024

View all text of Part 1007 [§ 1007.1 - § 1007.80]

§ 1007.55 - Guarantee fee.

The lender shall pay to HUD, at the time of issuance of the guarantee, a fee for the guarantee of loans under this part, in an amount equal to 1 percent of the principal obligation of the loan. This amount is payable by the borrower at closing.

authority: 12 U.S.C. 1715z-13b; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)

source: 67 FR 40776, June 13, 2002, unless otherwise noted.

cite as: 24 CFR 1007.55