Chapter 2
Mortgage Credit Guidelines
Page 2-15
Mortgage
lenders may collect from the borrower those customary and reasonable
costs necessary to close the mortgage. Lenders are reminded that
aggregate charges may not violate FHA’s tiered pricing rules and
that all charges must be properly disclosed to the borrower(s).
However, borrowers may not pay a tax service fee nor may the lender
collect an origination fee greater than one percent on forward mortgages
(plus the supplemental origination fee on Section 203(k) rehabilitation
mortgages), nor more than the greater of $2,000 or two percent of
the maximum claim amount on Home Equity Conversion Mortgages (HECM).
Please see: Mortgagee Letters 2006-04
and 2006-07.
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