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g. Payment of Operating Expenses (03/14/2016)
i. Definition
Operating Expenses are the costs associated with equipment, furniture, office rent, overhead, and employee compensation.
ii. Standard
The Mortgagee must pay all of its own operating expenses, including the expenses of its home office and any branch offices where it conducts FHA business.
The Mortgagee must maintain all accounts for operating expenses in its name.