California permissible fees

For first-lien residential mortgage loans, total costs and expenses (including origination, processing, and underwriting fees, but excluding title charges and recording fees) are capped at the greater of 5% of the principal or $390, not to exceed $700, and cannot exceed actual costs. Broker compensation (charges) is capped at 5% of principal for loans with terms under 3 years and 10% for terms of 3 years or more. Late payment charges are capped at 10% of the installment due, with a minimum of $5. No interest may be charged before loan proceeds are made available.