application for reamortization is rejected with respect to one of the loans and approved as to the other, $10.00 shall be retained by the Federal land bank to apply on expenses and the remaining $10.00 shall be returned to the association for the benefit of the applicant. If the application to reamortize a joint land bank and Commissioner loan is approved as to both loans, $20.00 is retained by the Federal land bank to apply on expenses. In addition to the fee for reamortization of both joint land bank and Commissioner loans, the borrower shall be required to pay actual cash outlays for abstract expenses, notarial costs, and other disbursements necessary to complete the transaction. (See 13 "Thirteenth", as added by sec. 4, 47 Stat. 1548, sec. 32, 48 Stat. 48, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 781 "Thirteenth", 1016, 1020, 1020a, and Sup.; 6 CFR 19.4043 and 19.4045) [Res. Ex. Com., Mar. 1, 1938]

30.8 Prepayment fees collected from the Federal Land Bank of Houston borrowers paying before expiration of the five-year period; amount. The Federal Land Bank of Houston shall make a charge of one percent per annum on the principal balance of each Federal land bank loan for each year of the unexpired portion of the five-year period. (Sec. 12 "Second", 39 Stat. 370, as amended; 12 U.S.Č. 771 "Second"; 6 CFR 10.387) [Res. Bd. Dir., Apr. 14, 1938]

30.9 Deposits and fees for abstract handling. Each borrower of abstracts held by the Federal Land Bank of Houston in connection with Federal land bank and Land Bank Commissioner loans, requesting a loan of abstracts of title held by the Federal Land Bank of Houston in connection therewith, shall be required to make a deposit to be fixed by the Federal Land Bank of Houston to guarantee the Federal Land Bank of Houston the return of the abstracts loaned. If the abstracts are returned in as good condition as when delivered, the deposit, less a handling charge of $2.00, is by the bank refunded to the borrower, or the party making the deposit. (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, and Sup.) [Res. Ex. Com., June 30, 1938]"

Federal land bank fees on bank and Commissioner loans: See §§ 19.4019-19.4024. Fees and charges in connection with extensions and reamortizations of Commissioner loans: See §§ 19.4043, 19.4045.

This resolution dated June 30, 1938, incorporates regulations in effect on June 1, 1938.

Insurance regulations: See §§ 10.331-10.347.
Prepayment of loans: See §§ 10.386, 10.387.

Section 31.1 Application appraisal fees, all types of loans. Amount applied for:

Up to and including $15,000....

$15,500 to $20,000.

$20,500 to $25,000

$25,500 to $30,000_ $30,500 to $35,000_ $35,500 to $40,000– $40,500 to $45,000.

$45,500 to $57,500_

Fee $15.00

20.00

25.00

30.00

35.00

40.00

45.00

50.00

For increased loans in active Class 1 and 2 associations, fee collected on basis of amount of increase only. However, if unpaid balance of loan plus increased amount applied for exceeds $25,000, necessitating two appraisals or more, bank collects twice amount of appraisal fee based on amount of increase.

If association endorsing old loan is in Class 3 or 4, or is inactive, and increased loan is applied for, the unpaid balance will be refunded by new loan closed through Class 1 or 2 association or direct. In such case fee collected is based on full amount, that is, the unpaid balance of the old loan to be refunded and the increased loan desired. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 723 (e), 781 "Ninth", 1016 (e), 1017, and Sup.; 6 CFR 19.4019 and 19.4022) [Res. Ex. Com., May 24, 1938]

31.2 Bank loan fees. Closing and title determination fees collected for land bank, joint, direct and Commissioner loans: Effective July 16, 1937:

Up to and including $2,000, $5.00.

Over $2,000, $5.00 plus 30 cents per hundred dollars in excess of $2,000.

For joint loans an additional fee of $5.00 is charged.

Applications filed prior to July 16, 1937:

Up to and including $1,000, $10.00.

Over $1,000, $10.00 plus 30 cents for each additional $100.00.
Appraisal fees are credited to loan closing fees.

For joint loans, fee is charged on each loan separately, crediting appraisal fee to land bank loan.

Direct loans:

In addition to the above closing fee, 1 percent of amount of loan closed.

For increased direct loan, preliminary and closed loan fees are collected on the basis of amount of increase only. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 723 (e), 781 "Ninth", 1016 (e), 1017, and Sup.; 6 CFR 19.4019, 19.4021, 19.4022) [Res. Ex. Com., May 24, 1938]

31.3 Personal risk investigation fees. Investigation of applicant made by this bank at request of other Federal land banks, $7.50. Investigation of applicants for loans through facilities of other Federal land banks for this bank, in addition to appraisal fee, $7.50.

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Investigation of nonresident applicants applying for loans in Eleventh Farm Credit District, in addition to application fee, $7.50. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth," 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 723 (e), 781 "Ninth", 1016 (e), 1017, and Sup.) [Res. Ex. Com., May 24, 1938]

31.4 Inspection fees. If loan funds are used for buildings or improvements, necessitating appraiser's inspection upon completion, the fee charged is $7.50. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 723 (e), 781 "Ninth", 1016 (e), 1017, and Sup.) [Res. Ex. Com., May 24, 1938]

31.5 Reappraisal fees. A reappraisal fee equal to the original application appraisal fee is charged when a reappraisal is requested from sources outside of the Federal land bank system. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth," 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended; 12 U.S.C. 723 (e), 781 "Ninth", 1016 (e), 1017, and Sup.; 6 CFR 19.4019) [Res. Ex. Com., May 24, 1938]

31.6 Partial release fees. Selling portion of farm; construction of highway across farm; selling water rights; removing trees or timber, gravel or buildings from mortgaged land; easements for rights-of-way; mineral subordinations, fee to accompany application: Direct land bank loans and Land Bank Commissioner loans, $15.00. Land bank or joint loans through associations, $20.00. Partial release application filed simultaneously with new loan application, both application and partial release fees charged.

Release or partial release of Commissioner chattel mortgage, if appraiser's inspection is necessary, $15.00.

(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, 1020, 1020a, and Sup.) [Res. Ex. Com., May 24, 1938]

31.7 Return of fees. Bank appraisal fee is returned if application is rejected before appraisal.

Nonresident personal investigation fee of $7.50 is returned if investigation is unnecessary.

Partial releases, easements or subordinations appraisal fees are returned if appraisal deemed by bank to be unnecessary, or if application is rejected before appraisal. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372, secs. 32, 33, 48 Stat. 48, 49, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 723, 781 "Ninth", 1016, 1017, 1020, 1020a, and Sup.; 6 CFR 19.4019) [Res. Ex. Com., May 24, 1938]

31.8 Conversion fees. For loans closed after March 16, 1936, one-half of 1 percent of the amount of direct loan closed collected by the bank when the loan is closed.

For loans closed prior to March 16, 1936, fee of $5.00 or 14 of 1 percent of unpaid amount of indebtedness, whichever fee is greater, provided the amount of fee collected shall not exceed 1 percent of the unpaid indebtedness. (Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372; 12 U.S.C. 723, 781 "Ninth") [Res. Ex. Com., May 24, 1938]

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(Sec. 7, 39 Stat. 365, as amended, sec. 13 "Ninth", 39 Stat. 372; 12 U.S.C. 723, 781 "Ninth"; 6 CFR 19.4023) [Res. Ex. Com., May 24, 1938]

If buildings are not replaced and fire loss funds are applied by the bank to reduce or protect loan, no fee is charged. (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, 1020, 1020a, and Sup. ; 6 CFR 10.337) [Res. Ex. Com., May 24, 1938]

31.11 Liquidation or prepayment fees. For land bank loans less than five years, prepayment in excess of 20 percent of original loan during any single year, including partial release payment on principal, 1/2 of 1 percent per annum is charged on unexpired portion of first five-year period computed on the amount of the additional principal payment made by the borrower. (Sec. 12 "Second", 39 Stat. 370, as amended; 12 U.S.C. 771 "Second"; 6 CFR 10.387) [Res. Ex. Com., May 24, 1938]

31.12 Reamortization fees. Land bank, joint and Commissioner loans-$7.50. (Sec. 13 "Thirteenth", as added by sec. 4, 47 Stat. 1548, sec. 32, 48 Stat. 48, as amended, secs. 1, 2, 48 Stat. 344, 345; 12 U.S.C. 781 "Thirteenth", 1016, 1020, 1020a, and Sup.; 6 CFR 19.4043, 19.4045) [Res. Ex. Com., May 24, 1938]

California: If case is handled by attorney not on bank's staff:

Balance of loan plus delinquencies under $5,000__
Balance of loan plus delinquencies over $5,000__

Arizona, Utah and Nevada :

$1,000 to $1,400

$1,500 to $2,400.

$2,500 to $3,400_

$100.00

200.00

$50.00

62.50

75.00

(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, 1020, 1020a, and Sup.) [Res. Ex. Com., May 24, 1938]

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Federal land bank fees on bank and Commissioner loans: See §§ 19.401919.4024.

Fees and charges in connection with extensions and reamortizations of Commissioner loans: See §§ 19.4043, 19.4045.

Prepayment of loans: See §§ 10.386, 10.387.

Section 32.1 Loan fees-(a) Loan application fees; payable with application. On each loan application a fee is charged as follows:

If the application is cancelled or rejected before appraisal, the entire fee is refunded. If the application is cancelled or rejected after appraisal, the entire fee is retained by the bank.

If the applicant does not reside in the twelfth 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.

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.

(b) Loan closing fees; payable when loan is closed. On each loan closed, a loan fee is charged as follows:

$15.00 on the first $1,000.00 loaned and $2.50 for each additional $1,000.00, or any fractional part thereof loaned. The application fee collected by the bank is applied on the loan fee in determining the net fee to be charged. The loan fee is the total charge made by the bank for appraisal and determination of title. The loan fee on any additional loan closed shall be determined as above provided on the amount of the additional loan granted.

(c) Local correspondent's fees; payable when loan is closed. On direct land bank loans a local correspondent's fee equal to 34 of 1 percent of the amount of the loan is charged (exclusive of $1.00 local correspondent's fee).

(d) Building inspection fee. An inspection fee is charged a borrower when the proceeds of a loan is disbursed for buildings on the property mortgaged and where the value established by the bank is predicated on such new buildings to be constructed. The fee of $7.50 is charged for the inspection made by the appraiser after the loan

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