State: |
Statutory Citation |
Flipping Banned |
Negative Amortization Banned |
Prepayment Penalties Banned |
Financing Credit Insurance Banned |
Consumer Credit Counseling Provision |
High Debt to Income Ratio Provision
(Ability to repay loan) |
Arkansas |
Ark. Stat. Ann. §23-53-101 et seq. |
X |
X |
|
X |
3rd party required |
Give due regard |
California |
Cal. Financial Code §4970 et seq. and §4973 et seq. |
X |
X |
|
|
Disclosure |
Presumption at 55% |
Colorado |
Colo. Rev. Stat. §5-3.5-101 et seq. and §38-40-105 |
X |
X |
|
|
Notification |
Give due regard |
Connecticut |
Conn. Gen. Stat. §36a-746 et seq. and §36a-521 |
|
X |
|
|
Notification |
Presumption at 50% |
D.C. |
D.C. Code Ann. §26-1114. and §26-1151.01 et seq. |
|
X |
X |
|
|
Give due regard |
Florida |
Fla. Stat. §494.0078 et seq. |
X |
X |
|
|
Notification |
Give due regard |
Georgia |
Ga. Code §7-6A-1 et seq. |
X |
X |
|
X |
3rd party required |
Presumption at 50% |
Illinois |
Ill. Rev. Stat. ch. 815, 137/1 et seq. and ch. 765, 77/70 |
X |
X |
|
X |
Notification |
Presumption at 50% |
Indiana |
Ind. Code 4-6-12 and 24-9-1 et seq. |
|
X |
|
X |
3rd party required |
Give due regard |
Kentucky |
Ky. Rev. Stat. §294.010 et seq. and §360.100 |
X |
X |
|
X |
Notification |
Presumption at 50% |
Louisiana |
La. Rev. Stat. Ann. 6:1096(G) and 9:3572.6(C) |
|
|
|
|
|
|
Maine |
Me. Rev. Stat. Ann. tit. 9-A, §2-509, tit. 9-B, §429; tit. 9-A, §8-103, §8-206-A, tit. 9-A, §10-102 and tit. 33, §506, 2007 Chapter 273, 2008 Chapter 471 |
X |
X |
X |
X |
3rd party required |
Give due regard |
Maryland |
Md. Commercial Law Code §12-127, 12-311, 12-409.1 and 12-1029 |
X |
X |
|
X |
3rd party required |
Presumption at 45% |
Massachusetts |
Mass. Gen. Laws Ann. ch.183C, 1 et seq. |
|
X |
X |
|
3rd party required |
Presumption at 50% |
Michigan |
Mich. Comp. Laws §445.1631 et seq. |
|
X |
|
X |
Notification |
|
Minnesota |
2007 Chapter 18
Minn. Stat. §58.137 |
X |
|
|
|
Notification |
Requires vertification |
Missouri |
Mo. Rev. Stat. 375.937 |
|
|
|
|
|
|
Montana |
Mont. Code Ann. §32-5-306 |
|
|
|
|
|
|
Nebraska |
Neb. Rev. Stat. §45-702, 45-704 and 45-705 |
|
|
|
X |
|
|
Nevada |
Nev. Rev. Stat. §598D.010 et seq. |
|
|
X |
X |
|
Give due regard |
New Jersey |
N.J. Rev. Stat. 46:10B-22 et seq. |
|
X |
|
X |
3rd party required |
|
New Mexico |
N.M. Stat. Ann. §58-21A-1 et seq. |
X |
X |
X |
X |
3rd party required |
Give due regard |
New York |
N.Y. Banking Law 6-l |
X |
X |
|
X |
Notification |
Give due regard |
North Carolina |
N.C. Gen. Stat. §24-1.1E, §24-1.1F, §24-10.2 and §53-243.01 et seq. |
X |
X |
|
|
3rd party required |
Presumption at 50% |
Ohio |
Ohio Rev. Code Ann. §1322.062, §1322.07, §1322.08, §1345.01 et seq. and §1349.25 et seq. |
X |
X |
|
X |
|
Give due regard/
Presumption at 50% |
Oklahoma |
Okla. Stat. tit. 14A, §3-204 and tit. 59, §2081et seq. |
X |
|
|
|
|
Give due regard |
Pennsylvania |
Pa. Cons. Stat. 63, §456.101 et seq. |
|
|
|
|
Notification |
Presumption at 50% |
Rhode Island |
R.I. Gen. Laws §34-23-5
R.I. Gen. Laws §34-25.2-1 et seq. |
X |
X |
|
X |
3rd party required |
Presumption at 50% |
South Carolina |
S.C. Code Ann. §37-23-10 et seq. |
X |
X |
|
X |
3rd party required |
Presumption at 50% |
Tennessee |
Tenn. Code Ann. §45-20-101 et seq. |
X |
X |
|
|
|
Presumption at 50% |
Texas |
Tex. Finance Code §343.001 et seq. and Tex. Gov. Code §2306.001 et seq. |
|
X |
X |
|
|
Give due regard |
Utah |
Utah Code Ann. §61-2d-101 et seq. |
|
X |
|
X |
Notification |
|
Virginia |
Va. Code §6.1-422.1 and §6.1-422 |
X |
|
|
|
|
|
Washington |
Wash. Rev. Code §31.04 et seq. |
|
|
|
|
|
|
West Virginia |
W. Va. Code §31-17-1 et seq. |
|
|
X |
|
|
|
Wisconsin |
Wis. Stat. Ann. §428.202 et seq. |
X |
X |
|
X |
Notification |
Give due regard |
