Hello all!

Having a little trouble pinning down the correct PPP for Wyoming. We are licensed as a Supervised Lender, and from what I see §40-14-318 states that PPP is not allowed.

A previous employee has noted that there are no PPP restrictions, as long as APR is under 18%, and the borrower is given the WY specific disclosure...unfortunately there was no source on this info!

Can anyone help? Thanks in advance!

We only have PPP on commercial loans, not consumer.

Per VMP Statelink

Prepayment Penalty - Licensees must disclose to the borrower if there is a prepayment penalty for the mortgage loan product, the amount or calculation of the prepayment penalty, and the terms of the prepayment penalty. The disclosure must be delivered before the issuance of a commitment by a mortgage broker or at the same the the borrower is given the federal truth-in-lending act disclosure by the mortgage lender. [WY Stat Section 40-23-115(b) and 113(a)(ii) amended by 2005 Wyoming Senate File 13][WY Division of Banking Regulation Chapter 2, Section 6]

[VMP-1091(WY), WY Important Prepayment Penalty Disclosure]