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Utah Code Title 57. Real Estate § 57-28-205. Costs and repayment

Current as of January 01, 2025 | Updated by Findlaw Staff

A lender may collect the following charges and fees in connection with the origination of a reverse mortgage:

(1) the actual expenses that the lender incurs in originating and closing the reverse mortgage, including a mortgage broker's fee if the mortgage broker and the lender do not share any pecuniary interests; and

(2) the actual amount that the lender paid for:

(a) a recording fee;

(b) a credit report;

(c) a survey, if required by the lender or the borrower;

(d) a title examination;

(e) the lender's title insurance; and

(f) an initial appraisal of the real property that secures the reverse mortgage.

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Cite this article: FindLaw.com - Utah Code Title 57. Real Estate § 57-28-205. Costs and repayment - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-57-real-estate/ut-code-sect-57-28-205/

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