24 C.F.R. § 235.1216 Late charge.
Title 24 - Housing and Urban Development
The mortgage may provide for the collection by the mortgagee of a late charge, not to exceed four percent of the mortgagor's share of each payment more than 15 days in arrears, to cover servicing and other costs attributable to the receipt of payments from the mortgagors after the date upon which payment is due. Such charge shall not be included in the assistance payment. [42 FR 29306, June 8, 1977. Redesignated at 60 FR 56500, Nov. 8, 1995]
Title 24: Housing and Urban Development
PART 235—MORTGAGE INSURANCE AND ASSISTANCE PAYMENTS FOR HOME OWNERSHIP AND PROJECT REHABILITATION
Subpart H—Eligibility Requirements: Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities—Refinancing Mortgages Under Section 235(r) of the National Housing Act
Eligibility Requirements; Direct Endorsement
§ 235.1216 Late charge.
