2020 Connecticut General Statutes 36a-760f – Prohibition against dividing or structuring loan to avoid application of nonprime home loan statutory provisions
Current as of: 2020 | Check for updates
|
Other versions
No lender or mortgage broker shall attempt in bad faith to avoid the application of sections 36a-760a to 36a-760h, inclusive, by dividing any loan transaction into separate parts or to structure in bad faith a residential mortgage loan transaction as an open-end loan for the purpose of evading the applicable provisions of sections 36a-760a to 36a-760h, inclusive, when the loan would have been a nonprime home loan if the loan had been structured as a closed-end loan.