Audit Update
Description
New audit for North Carolina loans. Under N.C.G.S 24-1.1A(c)(1), transactions in North Carolina may not have fees paid to the lender that exceed 1/4 of 1% of the loan amount (or $150 whichever is greater). Fees such as application, origination, commitment, and interest rate lock fees have special exemptions. Please refer to the statute for additional information.
North Carolina G.S. 24-1.1A(c)(1)