This bulletin provides further guidance on permitted charges on subordinate lien residential mortgage loans, including loans made by licensed lenders, and reiterates that only fees permitted by 9 VSA §42 may be charged in connection with subordinate lien residential mortgage loans.
Department of Banking, Insurance, Securities & Health Care Administration
Vermont Banking Division
Section 1. Authority and Purpose
This regulation is promulgated pursuant to Title 8 Section 75, and Section 2214 (which was 8 V.S.A. § 2231 prior to January 1, 1997). Its purpose is to set forth rules for the licensing and regulation of Mortgage Brokers.