West Virginia permissible fees

West Virginia caps combined fees and points (including yield spread premiums) charged by both mortgage brokers and lenders on first-lien residential mortgage loans at 5% of the loan amount, excluding reasonable third-party closing costs. Within 24 months of a prior loan by the same broker/lender, a borrower-initiated refinancing is subject to a 2% cap on combined fees and points. Brokers must disclose all compensation in a written contract and cannot collect dual fees as both broker and lender. Advance fees are restricted and must be held in trust until closing.