We have issued an update to the system that modified the following:
Updates have been made to the compliance warnings for the following states:
- Minnesota (Prepayment Penalties): Updated the statutory threshold for loan size to the 2025 figures ($806,500 for a 1-unit; $1,032,650 for a 2-unit; $1,248,150 for a 3-unit; $1,551,250 for a 4-unit). Additionally updated the hyperlink where these figures can be found.
- Ohio (Prepayment Penalties): Updated the statutory threshold for loan size to the 2025 figure ($112,957). Additionally updated they hyperlink where this figure can be found.
- Pennsylvania (Prepayment Penalties): Updated the statutory threshold for loan size to the 2025 figure ($319,777). Additionally updated the hyperlink where this figure can be found.
- New Mexico (Late Fees): Updated the statutory threshold for loan size to the 2025 figure ($806,500). Additionally updated the hyperlink where this figure can be found.
- Tennessee (Usury / Interest Rates): Updated the hyperlink where the “Formula Rate” can be found (Updates weekly).