§ 26-1152.15. No negative amortization.

Current through October 23, 2012

A lender shall not make a covered loan with a payment schedule with regular periodic payments that causes the principal balance to increase.

                
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(May 7, 2002, D.C. Law 14-132, § 215, 49 DCR 2551.)

HISTORICAL AND STATUTORY NOTES

Emergency Act Amendments

For temporary (90 day) addition of section, see § 215 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).

Legislative History of Laws

For Law 14-132, see notes following § 26-1151.01.