A high-cost home mortgage loan shall not include the financing of points and fees greater than 5 per cent of the total loan amount or $800, whichever is greater.
Mass. Gen. Laws ch. 183C, § 6
Limitation on financing of points and fees
Known as the Predatory Home Loan Practices Act
The act spans §§ 183C-1 to 183C-9 (19 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.