§ 338.9. Mortgage lending of a controlled entity.
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/us/cfr/t12/s§ 338.9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any bank which refers any applicants to a controlled entity and which purchases any covered loan as defined in Regulation C of the Bureau of Consumer Financial Protection (12 CFR part 1003) originated by the controlled entity, as a condition to transacting any business with the controlled entity, shall require the controlled entity to enter into a written agreement with the bank. The written agreement shall provide that the entity shall:
(a)Comply with the requirements of §§ 338.3, 338.4, and 338.7, and, if otherwise subject to Regulation C of the Bureau of Consumer Financial Protection (12 CFR part 1003), § 338.8;
(b)Open its books and records to examination by the Federal Deposit Insurance Corporation; and
(c)Comply with all instructions and orders issued by the Federal Deposit Insurance Corporation with respect to its home loan practices.
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- 12 CFR 1003
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§ 338.9
Mortgage lending of a controlled entity.
Cite12 CFR 1003
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