North Dakota § 13-12-15 - Advance fees prohibited - Exception
Full text of North Dakota North Dakota Century Code § 13-12-15 — Advance fees prohibited - Exception, with citation guidance and answers to common questions.
§ 13-12-15. Advance fees prohibited - Exception
A residential mortgage lender may not take any type of fee in advance before the funding of the loan, unless the residential mortgage lender is licensed under this chapter. A residential mortgage lender licensed under this chapter may accept an advance expense deposit which may not exceed the residential mortgage lender's good-faith estimate of the actual cost of any appraisal or credit reports performed by an independent appraiser or independent credit reporting agency and required by the originating lender for the evaluation of the potential borrower's loan application. Any expense deposit that exceeds the actual cost of any appraisal or credit report must be promptly refunded to the borrower or credited to the borrower's account at the time of the loan closing. A residential mortgage lender may also charge a fee in advance to lock an interest rate.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 13-12-15
What does North Dakota Century Code § 13-12-15 cover?
Section 13-12-15 ("Advance fees prohibited - Exception") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 13-12-15?
A common citation format is "North Dakota Century Code § 13-12-15" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 13-12-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.