Section 3 AAC 86.075 - 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 assumption fee of one percent of the remaining loan balance is due from the borrower when all provisions of 3 AAC 86.065 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.Eff. 9/11/85, Register 95; am 1/11/87, Register 101; am 7/4/91, Register 119; am 8/10/97, Register 143Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.95.010 as AS 45.81.200; former AS 45.95.020 as AS 45.81.210. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 86.075 to reflect the statutory renumbering.
Authority:AS 45.81.200
AS 45.81.210