TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: OFFICE OF BANKS AND REAL ESTATE
PART 345 HIGH RISK HOME LOANS
SECTION 345.60 REFINANCING PROHIBITED IN CERTAIN CASES


 

Section 345.60  Refinancing Prohibited in Certain Cases

 

No lender shall refinance any high risk home loan, where such refinancing charges additional points and fees, within a 12 month period after the original loan agreement was signed, unless the refinancing results in a financial benefit to the borrower.