Financial Institutions Position Statements

MBLSLA Prepayment Penalties

  • Decision on wording: PDF icon"to sell their property prior to the expiration of the pre-payment period, then notwithstanding XXXX's ability to call a default for a transfer without our consent, XXXX is still entitled to collect our pre-payment penalty" (redacted) (issued 11-29-99)
  • Decision on wording: PDF icon "3% prepayment penalty will be assessed if this loan is paid in full within the first three years of the loan" (redacted) (issued 1-12-00)