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e. Calculation of Insurance Claim Payment (05/09/2022)
HUD calculates the claim payment as follows:
Start With Loan Balance as of the Date of Default Add: Interim Interest Repossession and Preservation Costs Sales Commission Subtract: Best Price Obtainable Credit Due to the Borrower Equals Lender Loss Subtract: Coinsurance (10%) Equals Claim Payment (90% of Lender Loss)
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IV. CLAIMS AND DISPOSITION C. Title I Claims
2. Title I Claims for Manufactured Homes