6.2-326 - (Effective October 1, 2010) Fees and charges in connection with loans by real estate lenders. - Virginia Statutes

§ 6.2-326. (Effective October 1, 2010) Fees and charges in connection withloans by real estate lenders.

A. A lender engaged in making real estate mortgage or deed of trust loans,other than loans subject to the provisions of §§ 6.2-327 and 6.2-328, may:

1. Charge or collect in advance from the borrower a loan fee as agreedbetween the parties; and

2. Require the borrower to pay the reasonable and necessary charges inconnection with making the loan, including the cost of title examination,title insurance, recording and filing fees, taxes, insurance, includingmortgage guaranty insurance, appraisals, credit reports, surveys, drawing ofpapers, and closing the loan.

B. The fees and charges permitted by this section and other sections of thischapter are in addition to those permitted by § 6.2-325 and may be added tothe principal of the loan, and shall not be considered in determining whethera loan contract is usurious.

(1987, c. 622, § 6.1-330.70; 1990, c. 3; 2010, c. 794.)