Text: HSB00584                          Text: HSB00586
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 585

Bill Text

PAG LIN
  1  1    Section 1.  Section 535.8, subsection 2, paragraph b,
  1  2 unnumbered paragraph 2, Code 2003, is amended to read as
  1  3 follows:
  1  4    The lender shall not charge the borrower for the cost of
  1  5 revenue stamps or real estate commissions which are paid by
  1  6 the seller.  Collection of any cost costs other than as
  1  7 expressly permitted by this lettered paragraph is prohibited
  1  8 unless permitted by federal law or where specifically required
  1  9 for purchase by a secondary market investor.  
  1 10                           EXPLANATION
  1 11    This bill relates to what fees may be charged by a lender
  1 12 for residential real estate loans.  The bill permits a lender
  1 13 to charge a fee other than those expressly provided in Code
  1 14 section 535.8, subsection 2, paragraph "b", if the additional
  1 15 fee is permitted by federal law or if the fee is required to
  1 16 be assessed by the secondary market investor for purchase.  
  1 17 LSB 5591YC 80
  1 18 kk/gg/14
     

Text: HSB00584                          Text: HSB00586
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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