Section 67-25.008 - Program Fees(1) The Corporation shall charge up to 7% of the qualified mortgage loan amount as program fees. Program fees will be established prior to the sale of the bonds based on the size of the bond issue, market conditions and the best interest of the public.(2) The Corporation shall also charge a commitment fee in the amount of 1% of the aggregate amount of the allocation received by the participant at the time of allocation of the proceeds. If funds are made available on a first-come, first-served basis, the Corporation shall not charge a commitment fee. This commitment fee may be recouped by the participant upon the origination and closing of loans under the program by charging a loan origination fee to the eligible borrowers.Fla. Admin. Code Ann. R. 67-25.008
Rulemaking Authority 420.507(4), (12) FS. Law Implemented 420.507, 420.508 FS.
New 4-15-87, Formerly 9I-25.008, Amended 12-16-03.New 4-15-87, Formerly 9I-25.008, Amended 12-16-03.