Federally-related residential manufactured housing loans—consumer protection provisions.

CFR · 2024-01-01 · US · Title 12

(a) (1) (i) Refinancing or consolidation of the indebtedness; (ii) Actual prepayment of the indebtedness by the debtor, whether voluntarily or following acceleration of the payment obligation by the creditor; or (iii) The entry of a judgment for the indebtedness in favor of the creditor. (2) (3) (4) (b) (2) (A) (B) (ii) Any interested party may petition the OCC for a determination that (A) A copy of the state law to be considered; (B) Copies of any relevant judicial, regulatory, or administrative interpretations of the state law; and (C) An opinion or memorandum from the state Attorney General or other appropriate state official having primary enforcement responsibilities for the subject state law provision, indicating how the state law to be considered offers greater protection to consumers than the OCC's regulation. (c) (1) That portion of the precomputed finance charge which is allocable to all unexpired payment periods as originally scheduled, or if deferred, as deferred. A payment period shall be deemed unexpired if prepayment is made within 15 days after the payment period's scheduled due date. The unearned precomputed finance charge is the total of that which would have been earned for each such period had the loan not been precomputed, by applying to unpaid balances of principal, according to the actuarial method, an annual percentage rate based on those charges which are considered precomputed finance charges in this section, assuming that all payments were made as o

official document · source cfr-2024 · id 12:§ 190.4