HF 2817

Introduction - 87th Legislature (2011 - 2012)

Posted on 03/12/2012 01:58 p.m.

A bill for an act
relating to real estate; prohibiting mortgage lenders or brokers from charging for
services not performed or charges in excess of what was paid to a third party;
proposing coding for new law in Minnesota Statutes, chapter 47.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [47.223] NO FEES FOR SERVICES NOT PROVIDED.
new text end

new text begin A mortgage lender or mortgage broker shall not charge fees or other charges in
connection with origination of a mortgage loan for alleged services that the lender or
broker did not provide or fees or charges that exceed the cost paid to a third party for
products or services provided through the lender or broker by a third party.
new text end