1. Regulations
  2. title 24
  3. chapter IX
  4. part 1007
  5. § 1007.55

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