I work for a Mortgage Lending Company that is licensed actively in 31 states. We are regularly examined by the states we conduct business in. With respect to the Alternative Mortgage Transaction Parity Act, it is my understanding that effective 7/01/03 state chartered banks and unregulated mortgage companies will no longer be able to rely on the "Act" to preempt state laws prohibiting or limiting prepayment fees and late fees. I need to verify whether this applies to mortgage companies that are licensed in various other states to conduct mortgage lending activities? My guess would be no. However, I may be incorrect so I would to receive some input. Thanks!