Lapas attēli
PDF
ePub

have not been issued stock because their | through the association accepting the loans are not in good standing, as defined application or not. Whenever an addiby the Farm Credit Administration, shall be eligible to vote with other members admitted pursuant to section 25 (b). The approval of two-thirds of the members present and voting at each meeting at which the consolidation is considered, provided a quorum under the association's bylaws is present, shall be necessary before the consolidation can be

effected. The notices of the meetings

tional loan is applied for, the provisions of §§ 19.4005-19.4007, and the last sentence of § 19.4008, shall apply, except that, in such cases, the maximum association application fee which may be collected in accordance with § 19.4005 shall be based on the amount of the additional loan applied for, and the maximum additional association application fee which may be collected in accordance with $19.4007 shall be based upon the must contain a statement that a conamount of the additional loan tentatively solidation will be voted on. [As amended by FLB Rev. 67, June 5, 1939; 4 F.R. 2285] approved by the bank. When an additional loan is closed by the bank, the (d) Examination of associations; ex-association may collect a maximum ception. Each of the constituent asso- closed loan fee in an amount which, when ciations shall be examined as soon as added to the association application fees possible after the consolidation agree- already collected, will not exceed 1 perment has been approved by the memcent of the amount of the additional loan bers of all the constituent associations, closed. (Sec. 6, 47 Stat. 14, sec. 11 unless the Farm Credit Administration, "Third", 39 Stat. 369, as amended, sec. upon recommendation of the Federal 17 (d), 39 Stat. 375; 12 U.S.C. 665, 761 land bank of the district, shall decide "Third", 831 (d)) [As amended by FLB that such an examination is not necesRev. 86, Sept. 18, 1939; 4 F.R. 3955] sary. In cases where the bank believes that a special examination would not be justified, it should ask at the time the consolidation is submitted for final approval that the examination be dispensed with and should give its reasons for the request. [As amended by FLB Rev. 67, June 5, 1939; 4 F.R. 2285]

PART 19-FEES AND CHARGES

§ 19.4009 Additional loan fees. For the purposes of this section, the term "additional loan" shall be construed (1) to apply to any transaction which may, or does, result in additional funds being loaned wholly or partially on property that is security for a loan on which the applicant, at the time his application is filed, is the borrower from the Federal land bank; and (2) to include any new funds, plus any delinquent principal,

interest and other items due and unpaid under the outstanding land bank loan which, under the procedure of the bank, are included in the face amount of the new note. This construction shall be applicable whether the transaction is completed by way of a supplemental loan or a rewriting of the outstanding land bank loan and whether the outstanding land bank loan was closed

§ 19.4009-1 Fee on application for transfer of loan from one association to another. In connection with each application for a transfer of a loan from another association to it, an association may:

(a) Absorb expenses incurred in connection with such application including the cost of its inspection; or

(b) Require the payment of a fee of not to exceed $5 to cover the cost of its inspection before it considers the aptotal amount so collected shall not, in plication: Provided, however, That the any case, exceed 1 percent of the unpaid balance of the indebtedness. If the transfer is being made at the request of and for the convenience of the bank, the bank may pay the fee required by the association. If, however, the transfer is being made at the re

quest of and for the convenience of the

borrower, he may be required to pay the association fee. No fee may be collected by the transferor association. (Sec. 6, 47 Stat. 14, sec. 11 "Third", 39 Stat. 369, as amended, sec. 17 (d), 39 Stat. 375; 12 U.S.C. 665, 761 "Third", 831 (d)) [As added by FLB Rev. 10, July 14, 1938; 4 F.R. 33131

§ 19.4022 Additional loan fees. The definition of an "additional loan" set

forth in § 19.4009, extended to include | "Ninth", 831 (d)) [As amended by FLB a borrower from the Land Bank Commis- Rev. 86, Sept. 18, 1939; 4 F.R. 3955] sioner, shall apply to the term as used CHARGES IN CONNECTION WITH REAMORTIin this section. The application fee in ZATIONS OF COMMISSIONER LOANS connection with an additional loan shall not exceed an amount computed in accordance with approved schedules on the amount of the additional loan applied for. The balance of the bank's appraisal and title determination fees and the bank's direct-loan closed loan fees in such cases shall not exceed an amount computed in accordance with approved schedules on the amount of the additional loan closed. On Land Bank Commissioner additional loans made by way of a supplemental loan or by rewriting of the old loan the bank should charge the borrowers fees computed on the same basis as that adopted by the bank for computing fees in connection with additional land bank loans. (Sec. 6, 47 Stat. 14, sec. 11 "Third", 39 Stat. 369, as amended, secs. 13 “Ninth", 17 (d), 39 Stat. Dir., FFMC, Sept. 27, 1939; FLB Rev. 94, Dec. 372, 375; 12 U.S.C. 665, 761 “Third”, 781| 26, 1939; 4 F.R. 4942.

§ 19.4043 Charges in connection with reamortizations of Commissioner loans. Applicants for reamortizations of either first mortgage or second mortgage Commissioner loans should be required to pay such out-of-pocket costs as abstract charges, recording fees and other inci(Sec. 6, 47 Stat. 14, secs. dental items. 32, 33, 48 Stat. 48, 49, as amended, secs. 1, 2, 48 Stat. 344, 345, sec. 4 (b), 48 Stat. 346, as amended; 12 U.S.C. 665, 1017, 1020; 12 U.S.C. 1016, 1020a, 1020d, and Sup.) [As amended by Min. Bd. Dir., FFMC, Sept. 27, 1939; FLB Rev. 94, Dec. 26, 1939; 4 F.R. 4942]

§ 19.4045 Same; additional fees. [Revoked]

NOTE: This section was revoked by Min, Bd.

Subchapter C-Regulations Issued by the Federal Land Banks

PART 23-FEDERAL LAND BANK OF | creased by 50 percent will apply. If pre

[blocks in formation]

liminary appraisal and review are made none of the fee will be refunded. If it

is determined by the bank and the applicant, after preliminary appraisal and contact with the applicant, that the application is to be handled to a definite conclusion, a fee of 8 cents per acre for timber cruise will be charged, to be paid prior to the making of the cruise. (Sec.

Additional fees shall be charged in the 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 following cases:

(a) Non-resident applicants. If the applicant does not reside in the Third Farm Credit District an additional fee of $7.50 will be charged to cover the cost of securing an appraisal report from the district of his residence.

(b) Reappraisal fee. If a reappraisal is required because of delay of the applicant, or is made at the applicant's request, another appraisal fee, fixed in accordance with the above schedule, will be charged.

Stat. 48, 49, as amended; 12 U.S.C. 781 "Ninth", 1016 (e), 1017 and 6 CFR 19.4019) [As amended by Res. Bd. Dir., May 22, 1939; 4 F.R. 3533]

§ 23.4 Partial release of security fees. The following fees shall be charged in connection with applications for partial release of security:

[blocks in formation]

(c) Loans on naval stores farms. If an application for partial release is The regular schedule of fees will apply submitted simultaneously with an appliwhere the amount applied for does not cation for a new loan on the same secuexceed $10,000. If the amount exceeds rity, or on the same and additional se$10,000, the regular schedule of fees in-curity, the regular new loan application

fee will be charged in connection with the loan will be reinstated.

the new loan application, and in addition, a partial release fee of $7.50 will be charged in connection with the partial release application, except that when the security desired to be released is covered by a loan made through a national farm loan association the partial release fee will be $12.50.

However, a fee of $3 only will be charged in connection with applications for partial release of security on bank and Commissioner loans where the acreage desired to be released is five acres, or less; Provided, That in cases where, in the opinion of the bank, such release is not considered inconsequential, an additional fee, which when added to the $3 fee will equal the regular fee prescribed in connection with applications for partial release of security, shall be charged.

The following additional fees shall be charged in connection with applications for timber releases:

Sale price of timber Up to and including $2,000_ $2.001-$3,000

$3,001-$4,000

$4,001-$5,000.
$5,001 and up--

Fee

(Sec. 7, 39

Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372, sec. 32, 48 Stat. 48, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 723, 781 "Ninth", 1016 (e), 1020, 1020a) [As amended by Res. Ex. Com., Mar. 24, 1939; 4 F.R. 2017]

PART 27-FEDERAL LAND BANK OF
ST. PAUL

§ 27.1 Fees for appraisal and title determination; Federal land bank loans through national farm loan associations. One-half of 1 percent of the face of the loan, but with a minimum charge of $15 and a maximum charge of $75. At the time an application for a loan of $1,500 or less is filed there shall be paid $10 of the fee; at the time an application for a loan of $1,600 or more but not to exceed $8,000 is filed there shall be paid $15 of the fee; at the time an application for a loan of over $8,000 is filed there shall be paid, of the fee, $15 plus $1 for each thousand dollars or fraction thereof that the loan applied for is in excess of $15 20 $8,000. The balance of the fee will be 25 deducted from the proceeds of the loan when closed, except that if the applicant withdraws after appraisal is made and before the loan is closed, a charge may be made to defray such part of the appraisal and title examination expense incurred as is not covered by the amount paid with the application, such additional charge together with the initial charge in no event to exceed $75. (Sec. 13 "Ninth", 39 Stat. 372; 12 U.S.C. 781 "Ninth" and 6 CFR 19.4019) [As amended by Res. Bd. Dir., Feb. 22, 1939; 4 F.R. 1368]

30

30

These fees are not collected in advance, but are paid from the proceeds of the sale of the timber. (Sec. 13 "Ninth", 39 Stat. 372, sec. 32, 48 Stat. 48, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 781 "Ninth", 1016, 1020, 1020a) [As amended by Res. Bd. Dir., Dec. 20, 1938: 4 F.R. 2251

PART 24-FEDERAL LAND BANK OF

LOUISVILLE

§ 24.10 Appraisal fee and other costs and expenses to be charged on reinstating loan called for foreclosure. An appraisal fee of $10 is charged on each loan that is called for foreclosure, the security reappraised and the loan subsequently reinstated. This fee, together with all other costs and expenses incurred in calling such loan for foreclosure and/or incident to or because of the institution of foreclosure proceedings, whether by court action or otherwise (such as, attorney's fees, trustee's fees, court costs, abstract fees, or costs of depositions, advertisement, lis pendens notices or surveys) must be paid before

§ 27.2 Fees for appraisal and title determination; direct loans by Federal land bank. For each loan of less than $3,000, $15 plus 1 percent of the amount of the loan with a maximum fee $30. For loans of $3,000 and over, 1 percent of the face of the loan. At the time an application for a loan of $1,500 or less is filed there shall be paid $10 of the fee; at the time an application for a loan of $1,600 or more but not to exceed $8,000 is filed there shall be paid $15 of the fee; at the time an application for a loan of over $8,000 is filed there shall be paid, of the fee, $15 plus $1 for each thousand dollars or fraction thereof that the loan applied for is in excess of $8,000.

The balance will be deducted from the of obtaining from the Federal land bank proceeds of the loan when closed, except of the district wherein such applicant that if the applicant withdraws after resides, or recently has resided, a perappraisal is made and before the loan is sonal risk investigation in respect to such closed, a charge may be made to defray applicant, including joint owners, if such part of the appraisal and title ex- any; and in all cases where such appliamination expense incurred as is not cant shall not be a resident of said discovered by the amount paid with the ap-trict, such additional fee shall accomplication, such additional charge to-pany the application for loans; Provided, gether with the initial charge in no event to exceed the maximum charge for a closed loan as indicated herein. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372; 12 U.S.C. 723 (e), 781 "Ninth", and 6 CFR 19.4019) amended by Res. Bd. Dir., Feb. 22, 1939;

4 F.R. 1368]

[As

That whenever in any case such fee shall have been paid to the Federal Land Bank of Saint Paul, and no such investigation is made, the full amount of the fee so paid shall be returned to the applicant. (Sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 781 "Ninth", 1016 (e), 1017, and 6 CFR 19.4019) [As amended by Res. Bd. Dir., Apr. 19, 1939; 4 F.R. 21971

§ 27.3 Fees for appraisal and title determination; Land Bank Commissioner loans. Twenty dollars unless the Com§ 27.5 Fees for appraisal and title A fee in missioner loan is one made concurrently determination; reappraisal. with a Federal land bank loan covering the following amount payable in adthe same security. Ten dollars of the fee vance is required for each subsequent shall be paid at the time an application appraisal in connection with an applicafor a loan of $1,500 or less is filed; $15 tion for a loan when such appraisal is of the fee shall be paid at the time an made at the applicant's request: When application for a loan of $1,600 or more loan applied for is $1,500 or less, $10; is filed. The balance will be deducted when loan applied for is $1,600 or more from the proceeds of the loan when but not over $8,000, $15; when loan apclosed, except that if the applicant with-plied for is over $8,000, $15 plus $1 for draws after appraisal is made and before the loan is closed, a charge may be made to defray such part of the appraisal and title examination expense incurred as is not covered by the amount paid with the application, such additional charge together with the initial charge in no event to exceed the maximum charge of $20. (Sec. 13 "Ninth", | 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 781 “Ninth", 1016 (e), 1017, and 6 CFR 19.4019) [As amended by Res. Bd. Dir., Feb. 22, 1939; 4 F.R. 13681

§ 27.4 Fees for appraisal and title determination; non-resident applicants. Whenever the applicant in any application for a loan from the Federal Land Bank of Saint Paul and/or the Land Bank Commissioner, shall not be a resident of the Seventh Farm Credit District, or whenever such applicant until recently theretofore shall have resided outside said district, said bank shall charge in respect to each such application a fee of $7.50 in addition to the usual appraisal and title determination fees, said fee of $7.50 to cover the cost

each $1,000 or fraction thereof loan applied for is in excess of $8,000. (Sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 781 "Ninth", 1016 (e), 1017, and 6 CFR 19.4019) [As amended by Res. Bd. Dir., Apr. 19, 1939; 4 F.R. 2197]

§ 27.7 Charges for reamortization; Federal land bank loans. For each loan reamortized the applicant therefor shall pay $3, said sum representing the average cash outlay in connection with each such reamortization for abstract of title charges and recording fees. (Sec. 13 “Thirteenth", as added by sec. 4, 47 Stat. 1548; 12 U.S.C. 781 "Thirteenth") As amended by Res. Bd. Dir., Oct. 24, 1939; 4 F.R. 4942]

§ 27.8 Charges for reamortization; Land Bank Commissioner loans. For each loan reamortized the applicant therefor shall pay $3, said sum representing the average cash outlay in connection with each such reamortization for abstract of title charges and recording fees. In the case of a joint loan, where both the Federal land bank and the Land Bank Commissioner loans are

WICHITA

reamortized simultaneously, a charge of | PART 29-FEDERAL LAND BANK OF $2 in addition to the foregoing is made. (Sec. 32, 48 Stat. 48, as amended, secs. 1, § 29.1 Loan application fees; payable 2, 48 Stat. 344, 345; 12 U.S.C. 1016, 1020, when application is filed. 1020a, and 6 CFR 19.4043) [As amended by Res. Bd. Dir., Oct. 24, 1939; 4 F.R. 4942]

Amount of application

Application for $5,000 or less regard-
less of acreage..

Application for $5,100 to $10,000 on
less than 1,000 acres....

PART 28-FEDERAL LAND BANK OF Application for $10,100 to $25,000 on

[blocks in formation]

less than 1,000 acres.
Application for $5,100 to $25,000 on
1,000 acres or more..

Application for $25,100 or more on less
than 1,000 acres.
Application for $25,100 or more on
1,000 to 2,500 acres.
Application for $25,100 or more on
2,501 acres or more

Fee

$10.00

12.50

15.00

25.00

30.00

40.00

50.00

An additional charge of $5 if the application includes irrigated land or land in a drainage district, or both, and the amount applied for is $5,000 or less.

An additional charge of $5 if the application includes irrigated land and the amount applied for is over $5,000.

An additional charge of $5 if the application includes land in a drainage district and the amount applied for is over $5,000.

(b) Nonresident applicants. In addition to the appraisal fee, a fee of $7.50 will be charged for each applicant who An additional charge of $7.50 if the resides outside of, or has recently re-applicant lives outside the Ninth Farm moved to, the Eighth Farm Credit Dis- Credit District. trict. This fee will be required to accompany the application.

A minimum fee of $25 if the application is for an increased loan, when the amount applied for is $5,000 or more,

applied for plus the amount of the loan in force exceeds $25,000.

(c) Reappraisal. A fee of $10 will be charged for each reappraisal at the re-but less than $25,000, and the amount quest of the applicant, regardless of the amount applied for or the extent of the security. This fee is payable before the reappraisal will be made. (Sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 781 "Ninth", 1016 (e), 1017, and 6 CFR 19.4019) amended by Res. Bd. Dir., Sept. 20, 1939;

4 F.R. 4692]

[As

§ 28.3 Partial release of security fees. A fee of $10 will be charged on each application for partial release where an appraisal is required by the bank. Where an appraisal is not required by the bank, a fee of $2.50 will be charged. Fees need not be submitted with partial release applications. (Sec. 13 "Ninth", 39 Stat. 372, sec. 32, 48 Stat. 48, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 781 “Ninth”, 1016, 1020, 1020a) [As amended by Res. Bd. Dir., Sept. 20, 1939; 4 F.R. 4692]

If, after an inspection and investigation has been made by a Land Bank appraiser, a loan is not granted, no refund of any portion of the above charges will be made. (Sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended;

12 U.S.C. 781 "Ninth", 1016 (e), 1017, and 6 CFR 19.4019) [As amended by Res. Ex. Com., June 27, 1939; 4 F.R. 3314]

§ 29.4 Insurance loss fees; payable by deduction from the insurance proceeds received by the Bank as mortgagee unless otherwise paid.

Amount of loss covered
Loss of less than $100----
Loss of $100 or more but
$1,000 or less.

Fees to be charged mortgagor for investigation and appraisal

No Charge.
$3 plus .05 cents
per mile (one
trip only).

Loss of more than $1,000--- $10.

« iepriekšējāTurpināt »