Time and Place. The loan closing shall be scheduled at a time and place acceptable to the borrower and the Program and conducted in a manner acceptable to the Program. Title Insurance. The borrower shall provide at closing a standard American Land Title Association Loan Policy that is acceptable to the Program, insuring the Department for an amount equal to the borrower's maximum line of credit. The title policy shall evidence that title to the home is vested in the borrower, or the joint borrowers as the case may be, and contain only those exceptions and encumbrances acceptable to the Program. Charges and Fees. The borrower is responsible for paying closing costs. Payment may be made directly by the borrower or may be financed by the loan as described in Regulation .06B.