12 C.F.R. § 34.23 Prepayment fees.
Title 12 - Banks and Banking
A national bank offering or purchasing ARM loans may impose fees for prepayments notwithstanding any State law limitations to the contrary. For purposes of this section, prepayments do not include: (a) Payments that exceed the required payment amount to avoid or reduce negative amortization; or (b) Principal payments, in excess of those necessary to retire the outstanding debt over the remaining loan term at the then-current interest rate, that are made in accordance with rules governing the determination of monthly payments contained in the loan documents.
Title 12: Banks and Banking
PART 34—REAL ESTATE LENDING AND APPRAISALS
Subpart B—Adjustable-Rate Mortgages
§ 34.23 Prepayment fees.
