24 CFR 206.105 : Housing And Urban Development (§ 0.1 To Parts 4101-4199) — (§ 200.1 To Parts 403-499) — Regulations Relating To Housing And Urban Development (Continued) (§ 200.1 To Parts 403-499) — Office Of Assistant Secretary For Housing - Federal Housing Commissioner, Department Of Housing And Urban Development (§ 200.1 To Parts 292-299) — Mortgage And Loan Insurance Programs Under National Housing Act And Other Authorities (§ 201.1 To § 267.22) — Home Equity Conversion Mortgage Insurance (§ 206.1 To § 206.308) — Contract Rights And Obligations (§ 206.101 To § 206.133) — Mortgage Insurance Premiums (§ 206.103 To § 206.116) — Amount of MIP.

4 Aug 2016

(a) Initial MIP. The mortgagee shall pay to the Secretary an initial MIP of two percent of the maximum claim amount.

(b) Monthly MIP. Monthly MIP will accrue daily on the mortgage balance at a rate equivalent to one-half of one percent per annum and shall be added to the mortgage balance when paid to the Secretary.

(Approved by the Office of Management and Budget under control number 2528-0133)
24 CFR 206.105