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Maximum Insurable Loan Calculation (MILE)U.S. Department of Housing and Urban Development Office of Residential Care Facilities OMB Approval No. 25020605 (exp. mm/dd/YYY)Public reporting burden for

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What is maximum insurable loan?

The maximum insurable loan is the highest amount of loan that can be covered by insurance in case of default.

Who is required to file maximum insurable loan?

Lenders or financial institutions are required to file maximum insurable loan.

How to fill out maximum insurable loan?

Maximum insurable loan can be filled out by providing the necessary information about the loan amount, borrower's details, and collateral.

What is the purpose of maximum insurable loan?

The purpose of maximum insurable loan is to protect lenders from potential losses due to borrower default.

What information must be reported on maximum insurable loan?

Information such as loan amount, borrower's credit history, collateral details, and insurance coverage must be reported on maximum insurable loan.

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