Electronic Payment of Multifamily Insurance Premiums

HUD · hud-other · Published 1998-01-08 · Effective 1998-02-09 · 63 FR 1302

Document

Document number: 98-441
Federal Register citation: 63 FR 1302
CFR reference: 24 CFR 207
Type: Rule
Action: Final rule.
Category: hud-other
Agency: US Department of Housing and Urban Development
Publication date: 1998-01-08
Effective date: 1998-02-09
Docket: Docket No. FR-4203-F-02

Abstract

This rule establishes that all annual multifamily mortgage insurance premium [MIP] collections in accordance with 24 CFR parts 207, 251, 252, 255, and 266 be made by the Automated Clearing House (ACH) program. The purpose of this rule is to improve the efficiency of the Multifamily Mortgage Insurance Program and reduce costs to HUD lenders. This rule does not affect the initial payment of MIPs.

Source

Authoritative: Federal Register document
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