Pennsylvania SB767 amends mortgage loan industry licensing and consumer protection laws by adding a definition for "discount points" and modifying.

Pennsylvania SB767 amends Title 7 of the Pennsylvania Consolidated Statutes, specifically addressing mortgage loan industry licensing and consumer protection. The bill adds a definition for "discount points," which are fees paid by consumers that result in a reduction of the interest rate or time-price differential applicable to the mortgage. It also amends the powers of mortgage lenders to include charging and collecting interest, discount points, origination fees, and delinquency charges, subject to the limitations of the chapter.

Pennsylvania SB767 amends mortgage loan industry licensing and consumer protection laws by adding a definition for "discount points" and modifying.

Pennsylvania SB767 amends Title 7 of the Pennsylvania Consolidated Statutes, specifically addressing mortgage loan industry licensing and consumer protection. The bill adds a definition for "discount points," which are fees paid by consumers that result in a reduction of the interest rate or time-price differential applicable to the mortgage. It also amends the powers of mortgage lenders to include charging and collecting interest, discount points, origination fees, and delinquency charges, subject to the limitations of the chapter.