The South Carolina Department of Consumer Affairs has announced an increase in the coverage amount for certain residential mortgage loans exempt from prepayment penalties under S.C. Code Ann. §§ 37-10-103 & 37-23-80.
The prepayment penalty coverage amount has been increased from $630,000 to $690,000.
Docutech’s Prepayment Penalty Matrix has been updated accordingly, and it is now available on the Matrices webpage.
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