Section 36a-760f - Prohibition against dividing or structuring loan to avoid application of nonprime home loan statutory provisions.

CT Gen Stat § 36a-760f (2019) (N/A)
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No lender or mortgage broker shall attempt in bad faith to avoid the application of sections 36a-760a to 36a-760h, inclusive, by dividing any loan transaction into separate parts or to structure in bad faith a residential mortgage loan transaction as an open-end loan for the purpose of evading the applicable provisions of sections 36a-760a to 36a-760h, inclusive, when the loan would have been a nonprime home loan if the loan had been structured as a closed-end loan.

(P.A. 08-176, S. 27.)

History: P.A. 08-176 effective July 1, 2008.