HB146.html

To amend Chapter 6A of Title 7 of the Official Code of Georgia Annotated, relating to the "Georgia Fair Lending Act," so as to exclude funding fees paid for loans made under any of the home loan programs of the United States Department of Veterans Affairs; to provide for related matters; to repeal conflicting laws; and for other purposes.

Chapter 6A of Title 7 of the Official Code of Georgia Annotated, relating to the "Georgia Fair Lending Act," is amended by striking subparagraph (G) of paragraph (13) of Code Section 7-6A-2, relating to definitions, and inserting in its place the following:
"(G) Points and fees shall not include:
(i) Taxes, filing fees, recording, and other charges and fees paid or to be paid to public officials for determining the existence of or for perfecting, releasing, or satisfying a security interest;
(ii) ~~Bona fide and reasonable fees~~ Fees paid as funding fees for loans made under any of the home loan programs of the United States Department of Veterans Affairs; or
(iii) Bona fide and reasonable fees paid to a person other than the creditor or an affiliate of the creditor for the following: fees for tax payment services; fees for flood certification; fees for pest infestation and flood determination; appraisal fees; fees for inspections performed prior to closing; credit reports; surveys; attorneys´ fees, if the borrower has the right to select the attorney from an approved list or otherwise; notary fees; escrow charges, so long as not otherwise included under subparagraph (A) of this paragraph; title insurance premiums; and fire and hazard insurance and flood insurance premiums, provided that the conditions in 12 C.F.R. 226.4(d)(2) are met."