24 CFR 203.281 - Calculation of one-time MIP.

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There are 2 Updates appearing in the Federal Register for 24 CFR 203. View below or at eCFR (GPOAccess)
§ 203.281 Calculation of one-time MIP.
(a) The applicable premium percentage determined under paragraph (b) of this section assumes, for purposes of calculation, that the entire amount of the one-time MIP is added to the loan amount. The amount of the one-time MIP shall be determined by multiplying the loan amount otherwise insurable under this part by the applicable premium percentage, subject to adjustment for the portion of the MIP, if any, that is not to be included in the insured mortgage.
(b)
(1) The Commissioner shall determine the applicable premium percentage in accordance with sound financial and actuarial practice.
(2) Application of the premium percentage determined under paragraph (b)(1) of this section shall not result in a MIP in excess of an amount equivalent to 1 per centum per annum of the amount of the principal obligation of the mortgage outstanding at any time, without taking into account delinquent payments or prepayments.
(c) The applicable premium percentage will be published by notice at least annually in the Federal Register.
[48 FR 28806, June 23, 1983, as amended at 61 FR 36265, July 9, 1996]

Title 24 published on 2014-04-01

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.

  • 2014-08-26; vol. 79 # 165 - Tuesday, August 26, 2014
    1. 79 FR 50835 - Federal Housing Administration (FHA): Handling Prepayments: Eliminating Post-Payment Interest Charges
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing-Federal Housing Commissioner
      Final rule.
      Effective Date: January 21, 2015.
      24 CFR Part 203

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United States Code

Title 24 published on 2014-04-01

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

  • 2014-08-26; vol. 79 # 165 - Tuesday, August 26, 2014
    1. 79 FR 50835 - Federal Housing Administration (FHA): Handling Prepayments: Eliminating Post-Payment Interest Charges
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing-Federal Housing Commissioner
      Final rule.
      Effective Date: January 21, 2015.
      24 CFR Part 203