North Carolina S675 modifies fees on second or junior lien real estate loans to align with federal standards.
North Carolina S675 modifies the maximum permissible fees or discounts that certain lenders may charge on second or junior lien real estate loans to align more closely with federal Qualified Mortgage standards. The bill specifies that lenders can charge fees or discounts up to two percent for construction loans on properties other than one or two family dwellings and one percent for other types of loans. The changes apply to loans made on or after the effective date of the act.
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