§1028. Mortgage insurance premiums
The authority may fix mortgage insurance premiums for the insurance of mortgage payments under this subchapter. The effective rate of the insurance premiums shall not be more than 2% per year of the actual or scheduled outstanding principal obligation at the beginning of each year. The authority shall determine and prescribe the manner in which the premiums shall be payable, the effective rate of the insurance premium, the actual or scheduled outstanding principal obligation and other matters necessary and proper for the assessment and collection of the premiums. [PL 1985, c. 714, §26 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §51 (AMD). PL 1985, c. 714, §26 (AMD).
Structure Maine Revised Statutes
Part 2: BUILDING AND DEVELOPMENT
Chapter 110: FINANCE AUTHORITY OF MAINE
Subchapter 2: MORTGAGE INSURANCE PROGRAMS
10 §1021. Credit of State pledged
10 §1022. Powers of the authority under this program (REPEALED)
10 §1023. Creation of Mortgage Insurance Fund (REPEALED)
10 §1023-A. Proceeds received by authority (REPEALED)
10 §1023-B. Mortgage Insurance Fund
10 §1023-C. Loan Insurance Reserve Fund
10 §1023-D. Underground Oil Storage Replacement Fund
10 §1023-E. Overboard Discharge Replacement Fund (REPEALED)
10 §1023-F. Innovation Finance Fund (REPEALED)
10 §1023-G. Waste Reduction and Recycling Loan Fund
10 §1023-I. Economic Recovery Program Fund
10 §1023-J. Agricultural Marketing Loan Fund
10 §1023-K. Clean Fuel Vehicle Fund (REPEALED)
10 §1023-L. Waste Oil Clean-up Fund (REPEALED)
10 §1023-M. Plymouth Waste Oil Loan Program (REPEALED)
10 §1023-N. Potato Marketing Improvement Fund
10 §1023-O. Visual and Digital Media Loan Fund (REPEALED)
10 §1023-P. Dairy Improvement Fund
10 §1025. Safeguarding the Mortgage Insurance Fund
10 §1026. Criteria for projects (REPEALED)
10 §1026-A. Insurance of loans
10 §1026-B. Mortgage insurance of $1,000,000 or less (REPEALED)
10 §1026-C. Mortgage insurance for veterans (REPEALED)
10 §1026-D. Mortgage insurance for other projects (REPEALED)
10 §1026-G. Mortgage insurance for overboard discharge replacement projects (REPEALED)
10 §1026-H. Innovation finance program (REPEALED)
10 §1026-J. Economic Recovery Program
10 §1026-K. Loan insurance for small businesses (REPEALED)
10 §1026-L. Capital Access Program
10 §1026-M. Regional Economic Development Revolving Loan Program
10 §1026-N. Maine Economic Development Venture Capital Revolving Investment Program
10 §1026-O. Employee stock ownership program (REPEALED)
10 §1026-P. Mortgage insurance for clean fuel vehicle projects (REPEALED)
10 §1026-Q. Early Care and Education Revolving Loan Program
10 §1026-S. Mortgage loans for Plymouth waste oil site remedial study (REPEALED)
10 §1026-T. Innovation finance program
10 §1027. Insurance of mortgages (REPEALED)
10 §1028. Mortgage insurance premiums
10 §1029. Insurance of subchapter 3 loans