Code of Federal Regulations · Section
§ 1007.55 — Guarantee Fee
24 C.F.R. § 1007.55
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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.
Authorizing Statute
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Administrative provisions42 U.S.C. § 3535
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Minimum standards for residential mortgage loans15 U.S.C. § 1639c