§ 235.1216 - Late charge.

Related Notices
- 2014-14446. Final rule. 2014-14446. Hashemite Kingdom of Jordan Loan Guarantees Issued Under the Further Continuing Appropriations Act, 2014-Standard Terms and Conditions

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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]

                    
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