Section 26-1152.05 - No encouragement of default

No encouragement of default

A lender shall not recommend or encourage the borrower to default on an existing loan or other debt prior to and in connection with the closing or planned closing of a covered loan that refinances all or any portion of the existing loan or other debt.

CREDIT(S)

(May 7, 2002, D.C. Law 14-132, § 205, 49 DCR 2551.)

HISTORICAL AND STATUTORY NOTES

Emergency Act Amendments
For temporary (90 day) addition of section, see § 205 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.

Current through September 13, 2012