Section 3.81.075. 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 not more than one percent of the total loan amount, to be set annually by the department, or an assumption fee of not more than one percent of the loan balance, to be set annually by the department, is due from the borrower when all provisions of 3 AAC 81.065 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, in the department's discretion, be charged to a borrower to process a loan extension.  

Authorities

16.10.510

Notes

Authority

AS 16.10.510

History

Eff. 9/11/85, Register 95; am 1/11/87, Register 101; am 7/4/91, Register 119; am 8/10/97, Register 143; am 10/16/2012, Register 204