Permitted Charges on Subordinate Lien Mortgages

Bulletin
Monday, June 18, 1984
Banking Bulletin #11

This bulletin clarifies that despite certain federal preemptions regarding first lien residential mortgage loans, Vermont law applies to subordinate lien residential mortgage loans and certain charges, such as points, are not permissible on subordinate lien residential mortgage loans. Only fees authorized by 9 VSA §42 are permissible on subordinate lien residential mortgage loans.

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These documents are not legal documents but are placed here for reference purposes only. For a legal copy please contact the department.