A one-time late charge of 4 percent is assessed on an Upfront Mortgage Insurance Premium (UFMIP) payment received more than 10 calendar days after the mortgage closing or disbursement date, whichever is later. The lender must pay the late fee before FHA will endorse the mortgage for insurance.
If the UFMIP is paid more than 30 calendar days after mortgage closing or Disbursement Date, whichever is later, the lender will be assessed the late fee plus interest. The interest rate is the U.S. Department of the Treasury's Current Value of Funds Rate in effect when the UFMIP payment is received. The lender must pay both charges before FHA will endorse the mortgage for insurance.
The Single Family Insurance Operations Division’s (SFIOD) Lender Assistance Section assists lenders with monthly (periodic) and upfront mortgage insurance premium issues.
Questions may be emailed to SFIOD at:
Questions related to the Collection Process of UFMIP may be emailed to:
The Single Family Upfront Mortgage Insurance Premium webpage is available at https://www.hud.gov/program_offices/housing/comp/premiums/ufmain
For additional information see Handbook 4000.1 II.A.7.d.i. at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh