Section 250.108  Fees and Charges of the Authority

A Commitment Fee may be established and collected by the Authority from each potential Lender filing an Application in such amount or amounts as the Authority may deem appropriate.  Commitment Fees applicable to offered sales of Mortgage Loans for which the Authority does not enter into a Mortgage Purchase Agreement shall be returned to the potential Lender.  The Commitment Fee may be used by the Authority for any lawful purpose permitted by Section 103 of the Internal Revenue Code of 1954 (26 U.S.C. Section 103) as amended from time to time and applicable regulations promulgated by the Treasury Department thereunder so as to retain the tax-exempt status of the Bonds.  The Authority may establish such other charges, premiums, and penalties as it may deem necessary to administer the Program, after the Authority's consideration of factors such as, including but not limited to, financing requirements of the Program, preferences of bond rating agencies, earnings and arbitrage limitations established by state or federal law and other financial factors relevant to the Program.