6 Miss. Code. R. § 1-4.7 - Loan Servicing Fees

The Lender may charge an agribusiness a servicing fee, which may not exceed one percent (1%) of the ABE Loan amount. The fee will be a one time charge collected when the ABE Loan is closed. The fee may be paid directly by the agribusiness, deducted from the ABE Loan proceeds, or financed as part of the Lender's loan. The Lender shall also be responsible for collecting and remitting to MDA, at loan closing, a servicing fee which represents one percent (1%) of the ABE Loan. The fee will be a one-time charge and may be paid by the agribusiness, deducted from the ABE Loan proceeds, or financed as a part of the Lender's loan. The Lender shall be responsible for servicing the ABE Loan, which will include all repayments to MDA. The Lender will also enforce the terms and conditions of all closing documents executed for the ABE Loan.

Notes

6 Miss. Code. R. § 1-4.7
Miss. Code Ann. § 69-2-13 (Rev. 2005) (as amended in HB 1148).

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