PREPAYMENT PENALTIES - Compliance

PREPAYMENT PENALTIES

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assume no responsibility for errors or omissions. Docutech is a registered trademark of First American Financial Corporation and/or

its affiliates.

? 2022 First American Financial Corporation and/or its affiliates. All rights reserved.

Important Note About the Interest Rate/APR/LTV Column: This column reflects the interest rate, APR, LTV, or other similar

restriction which applies to the types of loans a prepayment penalty restriction applies, as promulgated under the same chapter,

article, or title of such restriction. It does not, however, indicate the maximum interest rate which may be charged, which may be set

forth in another part of state law. The numbers in this column should not be used to determine which rates to charge. Unless otherwise

specified, a percentage listed in the column refers to the interest rate.

Last Updated: July 2022

? 2022 First American Financial Corporation and/or its affiliates. All rights reserved.

Version 2022.07

Page 1

Table of Contents

Click text to jump to page. To return to Table of Contents, click on the state abbreviation.

Alabama

Illinois

Nebraska

South Dakota

Alaska

Indiana

Nevada

Tennessee

Arizona

Iowa

New Hampshire

Texas

Arkansas

Kansas

New Jersey

Utah

California

Kentucky

New Mexico

Vermont

Colorado

Louisiana

New York

Virginia

Connecticut

Maine

North Carolina

Virgin Islands

Delaware

Maryland

North Dakota

Washington

District of Columbia

Massachusetts

Ohio

West Virginia

Florida

Michigan

Oklahoma

Wisconsin

Georgia

Minnesota

Oregon

Wyoming

Guam

Mississippi

Pennsylvania

Hawaii

Missouri

Rhode Island

Idaho

Montana

South Carolina

? 2022 First American Financial Corporation and/or its affiliates. All rights reserved.

Version 2022.07

Page 2

State

Loan Type

Property and

Occupancy

Type

Loan Amount

Interest

Rate/APR/LTV

Lien Type

Time

Payment

May Be

Made

Without

Penalty

Terms of the Penalty Charge

AL

Consumer

Credit

Transaction 1

Not specified

Any

Not specified

Both

Any

Prohibited

AL

Exempted

Consumer

Credit

Transaction 3

Can include

real property 4

¡Ý$2,000 5

Not specified

Both

Not

Specified

Any

AL

Credit

Transaction 7

Not specified

8% of TBills OR

Pts and Fees

>6% 26

Any

Any

Any

Not specified

Any

5 years+

An amount of up to 6 months¡¯ interest

on the amount prepaid in excess of

20% of the original principal amount 30

Any

Not specified

Any

7 years+

An amount of up to 6 months¡¯ interest

on the amount prepaid in excess of

20% of the original principal amount 33

? 2022 First American Financial Corporation and/or its affiliates. All rights reserved.

Version 2022.07

Page 4

State

Loan Type

Property and

Occupancy

Type

Loan Amount

Interest

Rate/APR/LTV

Lien Type

Time

Payment

May Be

Made

Without

Penalty

Terms of the Penalty Charge

Legal

Reference

Cal. Fin. Code ¡ì

50703; Cal. Bus.

& Prof. Code ¡ì

10242.6

California

Residential

Mortgage

Lending Act &

Real Estate Law

Cal. Fin. Code ¡ì

22337(c)

California

Finance Lenders

Law

A 1-to-4 family

dwelling 35

1st Lien:

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