24 CFR 206.111 - Due date of MIP.

Regulations last checked for updates: Nov 25, 2024

Title 24 - Housing and Urban Development last revised: Nov 13, 2024

View all text of Subpart C [§ 206.101 - § 206.146]

§ 206.111 - Due date of MIP.

(a) Initial MIP. The mortgagee shall pay the initial MIP to the Commissioner within fifteen days of closing and as a condition to the endorsement of the mortgage for insurance.

(b) Monthly MIP. Each monthly MIP shall be due to the Commissioner on the first business day of each month except the month in which the mortgage is closed.

authority: 12 U.S.C. 1715b,1715z; 42 U.S.C. 3535(d)

source: 82 FR 7117, Jan. 19, 2017, unless otherwise noted.

cite as: 24 CFR 206.111