# Electronic Payment of Multifamily Insurance Premiums
> **US Department of Housing and Urban Development** · Final rule. · Published 1998-01-08 · Effective 1998-02-09 · 63 FR 1302
## Document
- **Document number:** 98-441
- **Category:** hud-other
- **Agency:** US Department of Housing and Urban Development
- **Federal Register citation:** 63 FR 1302
- **CFR reference:** 24 CFR 207
- **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
- [Federal Register document](https://www.federalregister.gov/documents/1998/01/08/98-441/electronic-payment-of-multifamily-insurance-premiums)
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