24-9-4-11. Notice to Borrower
Sec. 11. A creditor may not make a high cost home loan unless the creditor has given the following notice, in writing, to the borrower not later than the time that notice is required under 12 CFR 226.31(c): “NOTICE TO BORROWER YOU SHOULD BE AWARE THAT YOU MIGHT BE ABLE TO OBTAIN A LOAN AT […]
24-9-4-12. High Cost Home Loan Agreements; Unconscionable and Void Provisions
Sec. 12. Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a provision of a high cost home loan agreement that: (1) requires arbitration of a claim or defense; (2) allows a party to require a borrower to assert a claim or defense in a forum that is: […]
24-9-5-1. Purchaser or Assignee Subject to Affirmative Claims and Defenses; Claims Available to Borrower
Sec. 1. (a) A person who purchases or is otherwise assigned a high cost home loan is subject to all affirmative claims and any defenses, except for an affirmative claim or defense pursuant to IC 24-9-3-7, with respect to the high cost home loan that the borrower could assert against a creditor or broker of […]
24-9-5-2. Acceleration; Reinstatement of High Cost Home Loan After Cure of Default
Sec. 2. (a) If a creditor asserts that grounds for acceleration under the terms of a high cost home loan exist and requires the payment in full of all sums secured by the security instrument, the borrower or a person authorized to act on the borrower’s behalf at any time before the title is transferred […]
24-9-5-3. Foreclosure Proceedings
Sec. 3. (a) A creditor making a high cost home loan that has the right to foreclose must use the judicial foreclosure procedures of the state in which the property securing the high cost home loan is located. The borrower has the right to assert in the proceeding the nonexistence of a default and any […]
24-9-5-4. Liability for Violation; Exceptions; Damages; Equitable Relief; Recoupment; Action by Homeowner Protection Unit for Deceptive Act; Statute of Limitations; Priority of Damages Over Civil Penalties
Sec. 4. (a) This section does not apply to a violation of IC 24-9-3-7(c)(4), IC 24-9-3-7(c)(5), or IC 24-9-3-7(c)(6). A person who violates this article is liable to a person who is a party to the home loan transaction, mortgage transaction (as defined in IC 24-9-3-7(a)), or real estate transaction (as defined in IC 24-9-3-7(b)), […]
24-9-4-1. Limitations and Prohibited Practices
Sec. 1. The following additional limitations and prohibited practices apply to a high cost home loan: (1) A creditor making a high cost home loan may not directly or indirectly finance any points and fees. (2) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). Prepayment fees or penalties […]
24-9-5-4.1. General Assembly Intent Relating to Certain Amendments Made to Section 4 of This Chapter
Sec. 4.1. The general assembly intends the amendment of section 4(c) of this chapter made by P.L.3-2005 to: (1) be construed together with section 4(c) of this chapter as enacted by P.L.73-2004, SECTION 33; and (2) apply as if the language of section 4(c) of this chapter, as amended by P.L.3-2005, SECTION 1, had been […]
24-9-4-2. Points and Fees Charged in Certain Refinance Transactions; Evasive Division of Home Loans Prohibited
Sec. 2. A creditor may not knowingly or intentionally: (1) refinance a high cost home loan by charging points and fees on the part of the proceeds of the new high cost home loan that is used to refinance the existing high cost loan within four (4) years of the origination of the existing high […]
24-9-5-5. Unintentional or Erroneous Violations; Corrections by Creditors
Sec. 5. (a) If the creditor or an assignee establishes by a preponderance of evidence that a violation of this article is unintentional or the result of a bona fide error of law or fact notwithstanding the maintenance of procedures reasonably adopted to avoid any such violation or error, the validity of the transaction is […]