§ 42-34-11 - Mortgage insurance premiums. - Rhode Island Statutes

SECTION 42-34-11

   § 42-34-11  Mortgage insurance premiums.– The authority is authorized to fix mortgage insurance premiums for theinsurance of mortgage payments under the provisions of this chapter, suchpremiums to be computed as a percentage, which shall not exceed three percent(3%) per annum, of the principal obligation of the mortgage in such manner ineach case as the authority shall determine on the basis of all pertinentavailable data. The premiums shall be payable by the mortgagors or themortgagees in such manner as shall be prescribed by the authority. The amountof premium need not be uniform among the various loans insured.