12 CFR 160.34 - Prepayments.

Regulations last checked for updates: Jun 17, 2024

Title 12 - Banks and Banking last revised: Jun 11, 2024

View all text of Part 160 [§ 160.1 - § 160.220]

§ 160.34 - Prepayments.

Any prepayment on a real estate loan must be applied directly to reduce the principal balance on the loan unless the loan contract or the borrower specifies otherwise. Subject to the terms of the loan contract, a Federal savings association may impose a fee for any prepayment of a loan.

authority: 12 U.S.C. 1462a,1463,1464,1467a,1701j,1828,3803,3806,5412; 42 U.S.C. 4106.

source: 76 FR 49030, Aug. 9, 2011, unless otherwise noted.

cite as: 12 CFR 160.34