12 C.F.R. Subpart C—Alternative Mortgage Transactions
Title 12 - Banks and Banking
A savings association must provide the initial disclosures described at 12 CFR 226.19(b) and the adjustment notices described at 12 CFR 226.20(c) for variable rate transactions, as described in those regulations. The OTS administers and enforces those provisions for savings associations. [63 FR 38463, July 17, 1998] (a) Applicable housing creditors. A housing creditor that is not a commercial bank, a credit union, or a federal savings association, may make an alternative mortgage transaction as defined at 12 U.S.C. 3802(1), by following the regulations identified in paragraph (b) of this section, notwithstanding any state constitution, law, or regulation. See 12 U.S.C. 3803. (b) Applicable regulations. OTS identifies §§560.35 and 560.210 as appropriate and applicable for state housing creditors. All other OTS regulations are not identified, and are inappropriate and inapplicable for state housing creditors. State housing creditors engaged in credit sales should read the term “loan” as “credit sale” wherever applicable in applying these regulations. [67 FR 60554, Sept. 26, 2002]
Title 12: Banks and Banking
PART 560—LENDING AND INVESTMENT
Subpart C—Alternative Mortgage Transactions
§ 560.210 Disclosures for variable rate transactions.
§ 560.220 Alternative Mortgage Transaction Parity Act.
