Discover Government Home loan Financial Board, Due-on-Business Activity Force Report dos, fifteen (1982)
The newest Board’s extensive legislation regulate, eg, reasonable credit standards, the designs and amount of loans, security called for, installment schedules, initially loan charges, project of rents, escrow membership and you can desire paid toward those individuals account, late costs, servicing off finance, and you may mortgage costs and you will prepayments. Discover a dozen CFR §§ 545.six, 545.8 (1982).
The brand new Board’s Due-on-Product sales Activity Push prices the Ca Finest Court’s limitations into the new do so regarding due-on-sale clauses accounted for 40% of total losings suffered inside 1981 by the condition-chartered associations about State-specific $two hundred mil. Continue Reading
