24 CFR 241.1105

§ 241.1105 Late charges.

United States · 24 CFR — Housing and Urban Development · Status: effective

Cite this

Citation: 24 CFR 241.1105, § 241.1105 Late charges, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100164
Permanent ID: ys:prov:100164@1
SHA-256: 170956fd86e97fc482dc82385035b77aa2300bf7912888b52426883bc61948b7

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Full text

The note and security instrument may provide for the lender's collection of a late charge, not to exceed 2 cents for each dollar of each payment to interest or principal more than 15 days in arrears, to cover the expense involved in handling delinquent payments. Late charges shall be separately charged to and collected from the borrower and shall not be deducted from any aggregate monthly payment.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.