US Laws, Codes, Statutes & Cases

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 31
                        RESIDENTIAL MORTGAGE PRACTICES
    26-3113.  RESTRICTIONS ON FEES AND CHARGES. (1) With the exception of a
loan cancellation fee, a licensee shall not require a borrower to pay any fees
or charges prior to a residential mortgage loan closing, except:
    (a)  Charges actually incurred by the licensee on behalf of the borrower
    for services which have been rendered by third parties necessary to
    process the application.  These fees may include, but are not limited to,
    fees for credit reports, flood insurance certifications, property
    inspections, title insurance commitments, UCC-4 lien searches, and
    appraisals;
    (b)  An application fee;
    (c)  A rate-lock fee; and
    (d)  A commitment fee upon approval of the residential mortgage loan.
    (2)  A loan cancellation fee may be charged and collected by a licensee at
any time either prior to the scheduled closing of a residential mortgage loan
transaction or subsequent thereto.
    (3)  Any fees charged under the authority of this section must be
reasonable and customary as to the type and the amount of the fee charged.