Section 3.78.075. Costs.

	(a)  All expenses incurred by the department in processing an application must be paid by the applicant. These expenses include the cost of title reports and insurance, recording fees, appraisals, surveys, travel, and other direct costs.  
	(b)  An origination fee of one percent of the total loan amount or an assumption fee of one percent of the loan balance is due from the borrower when provisions of AS 45.88.010 - 45.88.090 and this chapter have been met.  
	(c)  A late fee not to exceed five percent of the payment amount will, in the department's discretion, be charged to a borrower for each loan payment that is more than 15 days past due.  
	(d)  An extension fee not to exceed $100 will be charged to a borrower to process a loan extension.  
	(e)  An application fee not to exceed $100 will be charged to a borrower to process an application for a loan.  

Authorities

45.88.020

Notes

Reference

3 AAC 78.010

Authority

AS 45.88.020

History

Eff. 9/11/85, Register 95; am 1/11/87, Register 101; am 11/5/87, Register 104; am 7/4/91, Register 119; am 8/10/97, Register 143; am 9/7/2012. Register 203