We just received a form letter indicating that "each borrower who obtains a mortgage loan as defined by Article 13 shall pay to the department a per loan fee of $6.50. . .", which the lender is required to pay semi-annually.

I've been looking for an esclusion (like the regulatons have), but cannot determine what is an Article 13 mortgage loan. Any guidance? Thank you.

You need to review O.C.G.A. 7-1-1000 (article 13) and 7-1-1011. No one is excluded from paying this fee - however it does only pertain to loans secured by 1-4 family residential properties.

Would I collect the $6.50 on a construction loan made to an individual for investment purposes? The loan is made to a natural person, but the home will never be occupied as their personal residence.

Article 7-1-1011 stated that the fee applied to a mortage loan on residential property, which was defined as improved real property used or occupied, or intended to be used or occupied, as the principal residence of a natural person.

If this borrower rents or sells this home, it will indeed be occupied by a natural person, but that person will not be the borrower. Can anyone assist me with this matter?

Does GRMA apply to HELOCs?

What about a loan secured by 2 residences. Some say "The state only charges you a stamp fee per loan, not per property.... i.e. 10 properties under one loan = 1 GRMA.....
1 property under one loan = 1 GRMA"

1 fee per loan

Yes, GRMA applies to HELOCs.

This is not as clear as some say. For example this fee would apply to commercial loans made to an individual secured by a 1-4 family home that is a principal residence. The question then becomes the intent of the defination that states "if the property is intended to be for a residential property." Every 1-4 construction loan is intended for that purpose. The definantions do exclude rental property and non-principal residences (vacation homes). But what about the commerical builder building spec homes? The clear intent here is to sell them for principal dwellings????

The Georgia Community Bankers Assocaition has published a questions and answers concerning this. A question was "Does the $6.50 fee apply to construction loans?" The answer was: "Yes".

That is interesting because the state law was explained that it does apply to construction - perm loans, but not construction only. Did their Q&A's clarify any more about this situation?

Nope, their question and answer sheet is that simple and that straight-forward.

Would anyone have a copy of this that they could share? Thank you.

Hey Southern Banker: Refresher: we use to collect and pay this on every Georgia loan from our prior employer, pain in the bottom reporting. Miss working with you my friend.