24 C.F.R. § 200.88 Late charge.
Title 24 - Housing and Urban Development
The mortgage may provide for the collection by the mortgagee of a late charge in accordance with terms, conditions and standards of the Commissioner for each dollar of each payment to interest or principal more than 15 days in arrears to cover the expense involved in handling delinquent payments. Late charges shall be separately charged to and collected from the mortgagor and shall not be deducted from any aggregate monthly payment.
Title 24: Housing and Urban Development
PART 200—INTRODUCTION TO FHA PROGRAMS
Subpart A—Requirements for Application, Commitment, and Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects
Mortgage Provisions
§ 200.88 Late charge.
