§ 206.111 Due date of MIP.

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Title 24 CFR: Housing and Urban Development › Chapter II: OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › Part 206: HOME EQUITY CONVERSION MORTGAGE INSURANCE › Subpart C: Contract Rights and Obligations › § 206.111: § 206.111 Due date of MIP.

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

(a)

Initial MIP.

The mortgagee shall pay the initial MIP to the Commissioner within fifteen days of closing and as a condition to the endorsement of the mortgage for insurance.

(b)

Monthly MIP.

Each monthly MIP shall be due to the Commissioner on the first business day of each month except the month in which the mortgage is closed.

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