state_legiscan_drain · SC
Consumer Home Loans
January 13, 2026
Summary
This enacted bill amends South Carolina's high-cost and consumer home loan definitions to use the Average Prime Offer Rate (APOR) for the conventional mortgage rate. This aligns state law with federal TILA/RESPA definitions and may affect which loans are classified as high-cost, impacting disclosure and prepayment penalty restrictions.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.scstatehouse.gov/billsearch.php?billnumbers=0780&session=126&summary=B
Common questions
- What does "Consumer Home Loans" cover?
- This enacted bill amends South Carolina's high-cost and consumer home loan definitions to use the Average Prime Offer Rate (APOR) for the conventional…
- When was it published?
- It was published on January 13, 2026.
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