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e-CFR data is current as of August 7, 2020

Title 24Subtitle BChapter IISubchapter BPart 241Subpart E → §241.1105


Title 24: Housing and Urban Development
PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
Subpart E—Insurance for Equity Loans and Acquisition Loans—Eligibility Requirements


§241.1105   Late charges.

The note and security instrument may provide for the lender's collection of a late charge, not to exceed 2 cents 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 borrower and shall not be deducted from any aggregate monthly payment.

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