Maximum annual fee on home equity loans

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#2077033 - 05/04/16 07:04 PM Maximum annual fee on home equity loans
Couples Gold Star Joined: Apr 2009 Posts: 280 The Igloo	The State Banking laws state "a mortgage lender may charge, contract for, receive or collect on any open-end loan account an annual fee not to exceed $50 per year." Is this a state law that preempts any federal laws? Thanks!
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#2077568 - 05/08/16 12:40 PM Re: Maximum annual fee on home equity loans Couples
rlcarey 10K Club Joined: Jul 2001 Posts: 83,368 Galveston, TX	State laws never preempt Federal law. Fees on accounts are set at the State level. _________________________ The opinions expressed here should not be construed to be those of my employer: PPDocs.com
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