Utah Administrative Code (Current through November 1, 2019) |
R335. Financial Institutions, Consumer Credit |
R335-1. Rule Prohibiting Negative Amortizing Wrap Loans |
R335-1-3. Rule Prohibiting Negative Wrap Loans
Latest version.
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All wrap loans subject to Title 70C shall provide for a minimum monthly payment sufficient to pay at least the monthly interest on the wrap loan and the total monthly payment, including interest, principal, escrow or reserve payments, or both, on all obligations wrapped by the loan.