Pennsylvania HB1103 amends mortgage loan industry licensing and consumer protection laws, defining "discount points" and repealing outdated.

Pennsylvania HB1103 amends Title 7 of the Pennsylvania Consolidated Statutes, focusing on mortgage loan industry licensing and consumer protection. The bill adds a definition for "discount points" as fees paid by consumers to reduce interest rates or time-price differentials. It also grants mortgage lenders the authority to make first and secondary mortgage loans, and to charge and collect interest, points, discount points, origination fees, and delinquency charges, subject to chapter limitations.

Pennsylvania HB1103 amends mortgage loan industry licensing and consumer protection laws, defining "discount points" and repealing outdated.

Pennsylvania HB1103 amends Title 7 of the Pennsylvania Consolidated Statutes, focusing on mortgage loan industry licensing and consumer protection. The bill adds a definition for "discount points" as fees paid by consumers to reduce interest rates or time-price differentials. It also grants mortgage lenders the authority to make first and secondary mortgage loans, and to charge and collect interest, points, discount points, origination fees, and delinquency charges, subject to chapter limitations.