Alaska Statutes.
Title 6. Banks and Financial Institutions
Chapter 60. Mortgage Lending Regulation Act
Section 800. Authorization of Program Administration Fee. [Effective July 1, 2008]..
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AS 06.60.800. Authorization of Program Administration Fee. [Effective July 1, 2008]..

(a) The department may collect a program administration fee of $10 for each mortgage loan transaction to reimburse the state for the cost of administering this chapter.

(b) The program administration fee shall be paid by a borrower who is providing real property as security for the mortgage loan, except that, if the regulations of a federal or state loan program that insures the loan and that applies to the mortgage loan transaction prohibits the borrower from paying the program administration fee, another party to the mortgage loan transaction shall pay the program administration fee.

(c) If there are multiple mortgage loan instruments recorded for a single mortgage loan transaction, the department shall collect only one program administration fee.

(d) In this section, "mortgage loan instrument" means a deed of trust, mortgage, or another loan instrument recorded to encumber residential real property in the state.

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