Electronic Payment of Periodic Mortgage Insurance Premiums; Final Rule
HUD · hud-fha · Published 1995-06-30 · 60 FR 34136
Document
Document number
95-16128
Federal Register citation
60 FR 34136
CFR reference
24 CFR 203
Type
Rule
Action
Final rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
1995-06-30
Docket
Docket No. FR-3766-F-01
Abstract
This final rule amends HUD's Single Family Mortgage Insurance regulations. This rule authorizes the Federal Housing Administration (FHA) Commissioner to require that periodic mortgage insurance premiums (MIP) be remitted electronically. The purpose of this rule is to reduce the servicing costs to mortgage lenders and to enhance HUD operations.