# 24 C.F.R. § 206.113 (2026): Late charge and interest

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_113

## Section

- **Citation:** 24 C.F.R. § 206.113 (2026)
- **Heading:** Late charge and interest
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** 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 / § 206.113: § 206.113   Late charge and interest.

## Text

(a)
Late charge.
Initial MIP remitted to the Commissioner more than 5 days after the payment date in § 206.111(a) and monthly MIP remitted to the Commissioner more than 5 days after the payment date in § 206.111(b) shall include a late charge of four percent of the amount owed.
(b)
Interest.
In addition to any late charge provided in paragraph (a) of this section, the mortgagee shall pay interest on any initial MIP remitted to the Commissioner more than 20 days after closing, and interest on any monthly MIP remitted to the Commissioner more than 5 days after the payment date prescribed in § 206.111(b). Such interest rate shall be paid at a rate set in conformity with the Treasury Financial Manual.
(c)
Paid by mortgagee.
Any late charge and interest owed may not be added to the outstanding loan balance and must be paid by the mortgagee.

## Nearby sections

- [24 C.F.R. § 206.101 (2026) § 206.101   Sale, assignment and pledge of insured mortgages.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_101.md)
- [24 C.F.R. § 206.102 (2026) § 206.102   Insurance Funds.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_102.md)
- [24 C.F.R. § 206.103 (2026) § 206.103   Payment of MIP.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_103.md)
- [24 C.F.R. § 206.105 (2026) § 206.105   Amount of MIP.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_105.md)
- [24 C.F.R. § 206.107 (2026) § 206.107   Mortgagee election of assignment or shared premium option.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_107.md)
- [24 C.F.R. § 206.109 (2026) § 206.109   Amount of mortgagee share of premium.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_109.md)
- [24 C.F.R. § 206.111 (2026) § 206.111   Due date of MIP.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_111.md)
- [24 C.F.R. § 206.113 (2026) § 206.113   Late charge and interest.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_113.md)
- [24 C.F.R. § 206.115 (2026) § 206.115   Insurance of mortgage.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_115.md)
- [24 C.F.R. § 206.116 (2026) § 206.116   Refunds.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_116.md)
- [24 C.F.R. § 206.117 (2026) § 206.117   General.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_117.md)
- [24 C.F.R. § 206.121 (2026) § 206.121   Commissioner authorized to make payments.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_121.md)
- [24 C.F.R. § 206.123 (2026) § 206.123   Claim procedures in general.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_123.md)
- [24 C.F.R. § 206.125 (2026) § 206.125   Acquisition and sale of the property.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_125.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T24_P206_S206_113. Check the current official text before relying on it. Not legal advice.