C.F.R. » Title 24 » CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES › PART 203—SINGLE FAMILY MORTGAGE INSURANCE › Subpart B—Contract Rights and Obligations

24 C.F.R. § 203.260

Amount of mortgage insurance premium (periodic MIP)

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The mortgagee shall pay to the Commissioner an initial MIP in an amount equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the first year of amortization. After payment of the initial MIP, the mortgagee shall pay to the Commissioner an amount equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the 12-month period preceding each subsequent anniversary date of the beginning of amortization.

[48 FR 28805, June 23, 1983]
Notes of Decisions
Cited in 2 cases, 1974–1975 · leading case: Cason v. United States, 381 F. Supp. 1362 (W.D. Mo. 1974).
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Cason v. United States, 381 F. Supp. 1362 (W.D. Mo. 1974). “§§ 1709 (b)(6) and (c), 1715i(d) (1970); 24 C.F.R. §§ 203.260 , 221.254 (1973). 36 .”
Roberts v. Cameron-Brown Co., 410 F. Supp. 988 (S.D. Ga. 1975). “To quote from the plaintiff’s brief: “HUD regulations specify the amount of the annual mortgage insurance payments, 24 C.F.R. §§ 203.260 to .288, the methods and conditions for terminating the insurance contract, 24 C.”
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