[Code of Federal Regulations]

[Title 24, Volume 2]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR203.25]



[Page 159]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 

        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents

 

     Subpart A_Eligibility Requirements and Underwriting Procedures

 

Sec.  203.25  Late charge.



    The mortgage may provide for the collection by the mortgagee of a 

late charge, not to exceed four per cent of the amount of each payment 

more than 15 days in arrears, to cover servicing and other costs 

attributable to the receipt of payments from mortgagors after the date 

upon which payment is due.



[41 FR 49734, Nov. 10, 1976]