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<br />to sales or dislx�sit-ions occurring after year nine. An ojtcopr. i.-' 1
<br />excludes from recapture part: or all of the subsidy in the rasa of
<br />assisted individuals whose inc•o^e was less t-h:in presc.rit- i aunt9
<br />at. the time of the disposition.
<br />Origination and Purchase
<br />In connection with each Series A Mortgage Loan, the
<br />Participant may, as permitted by FHA or VA or Fannie Mae, charge
<br />and collect from the Mortgagor or seller of a Single Family
<br />Residence at the time of closing of the Series A Mortgage Loan an
<br />Origination Fee and a Discount Fee not in excess of the amounts set-
<br />forth
<br />etforth in the table below, provided that the Origination Fee and the
<br />Discount Fee shall not in any event exceed the applicable Fannie
<br />Mae, FHA, VA or RECD limits.
<br />The HUD -1 Settlement Statement and related loan documents shall
<br />separately and distinctly disclose the Origination Fee and the
<br />Discount Fee .and shall clearly reflect that the Origination Fee
<br />does not exceed 1% of the principal amount of the Series A Mortgage
<br />Loan. In addition, the Participant may collect at the time of lean
<br />application an application fee for the costs of the appraisal and
<br />the credit report (any moneys remaining out of the application fee
<br />must be refunded). Participant may also collect at the time of
<br />Closing from the Mortgagor or seller as permitted by Fannia Mae.
<br />FHA, VA or RECD, as applicable:-, all reasonable and custor^=try out-
<br />of-pocket costs permitted by law paid or incur -red by the
<br />Participant, including Lut not limited to notary fees, settlement
<br />fees, document preparation f«,es, hazard, mortgage or life insurance
<br />premiums, survey, titl,. insurance premiums, appraisal fees,
<br />attorneys, fees,�12S Series A Mortgage Loan review fee,
<br />documentary and int,an•liblw taxes, it any, recording or registration
<br />tames and charges, ),I, --paid escrow deposits and similar chargee.
<br />Such fees and ext.—times may be collected only once in connection
<br />with the originat1 .n of the series A Mortgage Loan and shall not
<br />rxc,eed l iwi t a est at,I ished f rom t ine to t ier by federal law or state
<br />lsw and in any event may not exeead like amounts charged Mn ouch
<br />area in cases %lhete CA0001 financing is not provided throw" t" -
<br />ex« 1t t evveoe bon". To the extent permitted by low. the
<br />/etst , cipaat may collect from the seller of a single rMuly
<br />fteioeftoe the VMMttx%. it any. of the orrtgLottler♦ Fee that may em
<br />be coi2ested trot a - A 'POOR d e to tederal se state low
<br />re :i'tat Lars
<br />46
<br />Origination
<br />Origination
<br />Origination
<br />and
<br />and
<br />and
<br />Discount
<br />Discount
<br />Discount
<br />Mortgage Loan
<br />Fee
<br />Fee
<br />Fee
<br />j 15_ Rat_Q
<br />(FjA/VA LoaIls)
<br />SCD LQrjajl-_1
<br />(rOn'✓entional Loans)
<br />6.65%
<br />1.75%
<br />2.10%
<br />2.351
<br />7.12
<br />0.00
<br />0.35
<br />0.60
<br />7.65
<br />1.00
<br />1.00
<br />1.00
<br />The HUD -1 Settlement Statement and related loan documents shall
<br />separately and distinctly disclose the Origination Fee and the
<br />Discount Fee .and shall clearly reflect that the Origination Fee
<br />does not exceed 1% of the principal amount of the Series A Mortgage
<br />Loan. In addition, the Participant may collect at the time of lean
<br />application an application fee for the costs of the appraisal and
<br />the credit report (any moneys remaining out of the application fee
<br />must be refunded). Participant may also collect at the time of
<br />Closing from the Mortgagor or seller as permitted by Fannia Mae.
<br />FHA, VA or RECD, as applicable:-, all reasonable and custor^=try out-
<br />of-pocket costs permitted by law paid or incur -red by the
<br />Participant, including Lut not limited to notary fees, settlement
<br />fees, document preparation f«,es, hazard, mortgage or life insurance
<br />premiums, survey, titl,. insurance premiums, appraisal fees,
<br />attorneys, fees,�12S Series A Mortgage Loan review fee,
<br />documentary and int,an•liblw taxes, it any, recording or registration
<br />tames and charges, ),I, --paid escrow deposits and similar chargee.
<br />Such fees and ext.—times may be collected only once in connection
<br />with the originat1 .n of the series A Mortgage Loan and shall not
<br />rxc,eed l iwi t a est at,I ished f rom t ine to t ier by federal law or state
<br />lsw and in any event may not exeead like amounts charged Mn ouch
<br />area in cases %lhete CA0001 financing is not provided throw" t" -
<br />ex« 1t t evveoe bon". To the extent permitted by low. the
<br />/etst , cipaat may collect from the seller of a single rMuly
<br />fteioeftoe the VMMttx%. it any. of the orrtgLottler♦ Fee that may em
<br />be coi2ested trot a - A 'POOR d e to tederal se state low
<br />re :i'tat Lars
<br />46
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