28-15-11-3. “Association”
Sec. 3. As used in this chapter, “association” refers to a savings association (as defined in IC 28-15-1-11). As added by P.L.193-1997, SEC.2.
28-15-11-4. “Federal Savings Association”
Sec. 4. As used in this chapter, “federal savings association” means any federal savings association or federal savings bank chartered or regulated under Section 5 of the Home Owners’ Loan Act of 1933 (12 U.S.C. 1464). As added by P.L.193-1997, SEC.2. Amended by P.L.27-2012, SEC.113.
28-15-11-5. “Graduated Payment Mortgage Loan”
Sec. 5. As used in this chapter, “graduated payment mortgage loan” or “GPM loan” means a mortgage loan under which: (1) the scheduled repayments begin at a level lower than that of a comparable standard mortgage loan and rise to a point determined by the loan documents; and (2) the period of the rise, the […]
28-15-11-6. “Loan Documents”
Sec. 6. As used in this chapter, “loan documents” means the documents evidencing a loan transaction. As added by P.L.193-1997, SEC.2.
28-15-11-7. “Money Cost Index”
Sec. 7. As used in this chapter, “money cost index” means any of the following: (1) The Federal Cost of Funds Index calculated and made available by the Federal Home Loan Mortgage Corporation on or about the twentieth day of each month. (2) The monthly average of weekly auction rates on United States Treasury bills […]
28-15-11-8. “Mortgage Loan”
Sec. 8. As used in this chapter, “mortgage loan” means: (1) a loan: (A) secured by a mortgage on real estate that is improved by a dwelling intended for occupancy by at least one (1) and not more than four (4) families; and (B) that includes: (i) the note; (ii) the mortgage; and (iii) any […]
28-15-11-9. “Reverse Annuity Mortgage Loan” or “Ram Loan”
Sec. 9. As used in this chapter, “reverse annuity mortgage loan” or “RAM loan” means a mortgage loan that: (1) provides periodic payments to the borrower based on the accumulated equity in the real estate securing the loan, with payments made directly by the lender or through the purchase of an annuity from an insurance […]
28-15-11-10. “Rollover Mortgage”
Sec. 10. As used in this chapter, “rollover mortgage” means a mortgage loan that: (1) is secured by a first mortgage on real estate improved by: (A) a dwelling intended for occupancy by at least one (1) and not more than four (4) families; or (B) a combination home and business building; and (2) may […]