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Current as of October 02, 2022 | Updated by FindLaw Staff
(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.
Cite this article: FindLaw.com - Code of Federal Regulations Title 24. Housing and Urban Development § 24.206.111 Due date of MIP - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-24-housing-and-urban-development/cfr-sect-24-206-111/
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