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TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE PART 345 HIGH RISK HOME LOANS SECTION 345.100 NEGATIVE EQUITY
Section 345.100 Negative Equity
No lender shall make a high risk home loan where the loan amount exceeds the value of the property securing the loan plus reasonable closing costs not to exceed 5% of the total loan amount. |