28- 248 C.M.R. ch. 101, § XI

Current through 2024-51, December 18, 2024

Section 248-101-XI - Reservation/Application Fee

A. One half of the fee shall be remitted to the financial institution if the Authority receives notification that the associated loan is closed within 90 days of the original application date; or

B. The full fee will be remitted to the financial institution if the Authority receives notification that the associated loan is withdrawn within 90 days of the original application date; or

C. No portion of the fee will be remitted to the financial institution if the Authority has received no notice that the associated loan has been either closed or withdrawn within 90 days of the original application date.

For purposes of this section, "original application date" shall mean the date the application is stamped as having been received by the Authority.

28- 248 C.M.R. ch. 101, § XI