Code of Federal Regulations · Section
§ 160.34 — Prepayments
12 C.F.R. § 160.34
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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.
Authorizing Statute
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Nonparticipation in flood insurance program42 U.S.C. § 4106
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Administrative provisions12 U.S.C. § 1462a