Current through November, 2024
Section 15-315-24 - Charges(a) Subject to the requirements of the federal MCC program, the corporation hereby establishes the following schedule of fees.(b) Fees to be paid by the eligible borrower are as follows:(1) Upon final approval of their MCC package, the eligible borrower shall pay a fee of up to $300 to the corporation and a fee of up to $100 to the participating mortgage lender.(2) Upon final approval of a request for reissuance of an MCC, the eligible borrower shall pay a fee of up to $200 to the corporation and a fee of up to $100 to the participating mortgage lender.(3) Upon making a request for a replacement MCC, the eligible borrower shall pay a fee of $25 to the corporation.(c) Fees to be paid by the mortgage lender to the corporation are as follows: (1) Upon election to participate in the program, the mortgage lender shall pay a fee of $250 per year to the corporation.(2) Upon submission of an application for corporation review, the mortgage lender shall pay a fee of $25 per application to the corporation.(3) Upon final approval of a request for an extension of up to sixty calendar days, the mortgage lender shall pay a fee of $100 to the corporation.[Eff 12/4/10; am] (Auth: HRS § 201H-16) (Imp: HRS § 201H-16)