Federal Housing Administration (FHA): Handling Prepayments: Eliminating Post-Payment Interest Charges

HUD · hud-other · Published 2014-08-26 · Effective 2015-01-21 · 79 FR 50835

Document

Document number: 2014-20214
Federal Register citation: 79 FR 50835
CFR reference: 24 CFR 203
Type: Rule
Action: Final rule.
Category: hud-other
Agency: US Department of Housing and Urban Development
Publication date: 2014-08-26
Effective date: 2015-01-21
Docket: Docket No. FR-5360-F-02

Abstract

This rule revises FHA's regulations that allow an FHA-approved mortgagee to charge the mortgagor interest through the end of the month in which the mortgage is being paid. The final rule allows mortgagees to charge interest only through the date the mortgage is paid, and prohibits the charging of interest beyond that date.

Source

Authoritative: Federal Register document
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