Prohibited practices.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) Giving the bank the right unilaterally to modify the contract unless: (i) The modification is favorable to the customer and is made without additional charge to the customer; or (ii) The customer is notified of any proposed change and is provided a reasonable opportunity to cancel the contract without penalty before the change goes into effect; or (2) Requiring a lump sum, single payment for the contract payable at the outset of the contract, where the debt subject to the contract is a residential mortgage loan.

official document · source cfr-2024 · id 12:§ 37.3