Late Charge
Last updated 2026-08-01
Fannie Mae
Updated 2026-08-01
A penalty that a borrower must pay when a mortgage payment is made a stated number of days (usually a minimum of 15) after its due date.
Fannie Mae Glossary of Terms
Fannie Mae · pp. 24–27
FTC
Updated 2026-08-01
A penalty imposed by the lender when a borrower fails to make a scheduled payment on time.
FTC Real Estate Terms
FTC · pp. 10–11
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