1. Regulations
  2. title 12
  3. chapter I
  4. part 160
  5. § 160.34

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-3, 1828, 3803, 3806, 5412(b)(2)(B); 42 U.S.C. 4106.

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

CITE AS: 12 CFR 160.34