Loans to members and lines of credit to members.

CFR · 2024-01-01 · US · Title 12

(a) (b) (i)(A) Rates of interest and amounts of finance charges, including: ( ( ( ( (B) Late charges; and (C) Closing costs, application, origination, or other fees; (ii) Terms of repayment, including: (A) The maturity of loans and lines of credit; (B) The amount, uniformity, and frequency of payments, including the accrual of unpaid interest if payments are insufficient to pay all interest due; (C) Balloon payments; and (D) Prepayment limits; (iii) Conditions related to: (A) The amount of the loan or line of credit; (B) The purpose of the loan or line of credit; (C) The type or amount of security and the relation of the value of the security to the amount of the loan or line of credit; (D) Eligible borrowers; and (E) The imposition and enforcement of liens on the shares of borrowers and accommodation parties. (2) (i) Insurance laws; (ii) Laws related to transfer of and security interests in real and personal property (see, however, paragraph (g)(6) of this section concerning the use and exercise of due-on-sale clauses); (iii) Conditions related to: (A) Collection costs and attorneys' fees; (B) Requirements that consumer lending documents be in “plain language;” and (C) The circumstances in which a borrower may be declared in default and may cure default. (3) (4) (5) (c) (2) (3) (4) (ii) (A) As specified in the law, regulations or program under which a loan is secured, in full or in part, by the insurance or guarantee of, or with an advance commitment to purchase the loan, in

official document · source cfr-2024 · id 12:§ 701.21