24 CFR 203.22 - Payment of insurance premiums or charges; prepayment privilege.

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There is 1 rule appearing in the Federal Register for 24 CFR 203. View below or at eCFR (GPOAccess)
§ 203.22 Payment of insurance premiums or charges; prepayment privilege.
(a) Payment of periodic insurance premiums or charges. Except with respect to mortgages for which a one-time mortgage insurance premium is paid pursuant to § 203.280, the mortgage may provide for monthly payments by the mortgagor to the mortgagee of an amount equal to one-twelfth of the annual mortgage insurance premium payable by the mortgagee to the Commissioner. Such payments continue only so long as the contract of insurance shall remain in effect or for such shorter period as mortgage insurance premiums are payable by the mortgagee to the Commissioner.
(b) Prepayment privilege. The mortgage shall contain a provision permitting the mortgagor to prepay the mortgage in whole or in part on any installment due date, but shall not provide for the payment of any charge on account of such prepayment.
[36 FR 24508, Dec. 22, 1971, as amended at 37 FR 8661, Apr. 29, 1972; 48 FR 28804, June 23, 1983; 50 FR 25914, June 24, 1985; 61 FR 36263, July 9, 1996]

Title 24 published on 2013-04-01

The following are only the Rules published in the Federal Register after the published date of Title 24.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2013-12-11; vol. 78 # 238 - Wednesday, December 11, 2013
    1. 78 FR 75215 - Qualified Mortgage Definition for HUD Insured and Guaranteed Single Family Mortgages
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      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of Secretary
      Final rule.
      Effective Date: January 10, 2014.
      24 CFR Parts 201, 203, 1005, and 1007

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United States Code

Title 24 published on 2013-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR 203 after this date.

  • 2014-03-13; vol. 79 # 49 - Thursday, March 13, 2014
    1. 79 FR 14200 - Federal Housing Administration (FHA): Handling Prepayments:Eliminating Post-Payment Interest Charges
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      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing-Federal Housing Commissioner
      Proposed rule.
      Comment Due Date: May 12, 2014.
      24 CFR Part 203