reglab/housing_qa huggingface dataset:
DC Code § 26-831.19 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 8A - Merchant Banks|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Merchant Banks|§ 26-831.19. Conservator; rights, powers, and privileges

(a) Under the supervision of the Commissioner, the conservator shall take possession of the books, records, and assets of the bank and shall take any action necessary to conserve the assets of the merchant bank pending further disposition of the business of the merchant bank as provided by law. (b) Subject to Superior Court approval and under the supervision of the Commissioner, a conservator shall: (1) Take possession of the books, records, and assets of the merchant bank and collect all debts, dues, and claims belonging to the merchant bank; (2) Sue, defend, compromise, arbitrate, or otherwise settle all claims involving the merchant bank; (3) Sell real and personal property if necessary to conserve the assets of the merchant bank; (4) Exercise all fiduciary functions of the merchant bank; (5) Pay all administrative expenses of the conservatorship, which expenses shall be a first charge upon the assets of the merchant bank and shall be fully paid before a final distribution or payment of dividends to creditors or shareholders; (6) Pay the debts of the merchant bank if the conservator determines that payment of the debts is in the best interests of the merchant bank; (7) Have all the powers of the directors, officers, and shareholders of the merchant bank as necessary to support an action taken on behalf of the merchant bank; and (8) Hold title to all the bank’s property, contracts, and rights of action. (c) Subject to Superior Court approval and under the supervision of the Commissioner, a conservator may: (1) Employ agents, legal counsel, accountants, appraisers, consultants, and other personnel, including, with the prior written approval of the Commissioner, personnel of the Department, that the conservator considers necessary or expedient to assist in the performance of the conservator’s duties; provided, that the expense of employing Department personnel shall be an administrative expense of the liquidation that shall be payable to the Department; or (2) Exercise any other power and duty authorized by the Superior Court. (d) Unless otherwise provided by law, a conservator, other than a conservator who is an employee of the Department and acting in his or her official capacity, may be required to post a bond in an amount to be determined by the Superior Court. (e) The conservator shall, on a regular basis, report to the Commissioner regarding all matters involving the conservatorship.  (June 9, 2001, D.C. Law 13-308, § 319, 48 DCR 3244.)
DC Code § 26-831.20 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 8A - Merchant Banks|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Merchant Banks|§ 26-831.20. Authority of conservator to borrow money; purpose

(a) With the prior approval of the Commissioner, the conservator of a merchant bank may borrow money to aid in the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends. (b) With the prior approval of the Commissioner, the conservator may secure money borrowed under subsection (a) of this section by the pledge, hypothecation, or mortgage of the assets of the merchant bank.  (June 9, 2001, D.C. Law 13-308, § 320, 48 DCR 3244.)
DC Code § 26-831.21 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 8A - Merchant Banks|Subchapter V - Commissioner Possession, Receivership, Conservatorship, and Liquidation of Merchant Banks|§ 26-831.21. Termination of conservatorship

(a) If the Commissioner determines that termination of the conservatorship and resumption of the transaction of the merchant bank’s business by the merchant bank can be achieved and maintained in a safe and sound manner and is otherwise in the public interest, the Commissioner may petition the Superior Court to terminate a conservatorship and permit the merchant bank to resume the transaction of its business, subject to terms, conditions, restrictions, and limitations as the Commissioner determines are appropriate. (b) If the Superior Court determines that reasons for the conservatorship no longer exist, the Superior Court may dissolve the conservatorship and terminate any pending proceedings. (c) If the Commissioner determines that it would be in the public interest, the Commissioner may petition the Superior Court for termination of a conservatorship and appointment of a receiver for the merchant bank under § 26-833.12.  (June 9, 2001, D.C. Law 13-308, § 321, 48 DCR 3244.)
DC Code § 26-831.22 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 8A - Merchant Banks|Subchapter VI - Miscellaneous Provisions|§ 26-831.22. Rules

The Commissioner may prescribe rules governing the activities of merchant banks and implementing this chapter pursuant to subchapter I of Chapter 5 of Title 2. The rules shall take into account the objective of merchant banks to provide needed capital to businesses and the nondepository nature of merchant banks.  (June 9, 2001, D.C. Law 13-308, § 322, 48 DCR 3244.)  Cross References Financial institutions organized under federal law, application of District law, see § 26-710. Secured transactions, sales of accounts and chattel paper, security interest, attachment and enforceability, transactions remain subject to this chapter, see § 28:9-203.
DC Code § 26-1151.02 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter I - Definitions; Federally Regulated and Supervised Entities and Fannie Mae and Freddie Mac|§ 26-1151.02. Federally regulated, supervised, and insured entities and the Federal National Mortgage Association and Federal Home Loan Corporation

(a) Nothing in subchapter II of this chapter shall be construed to apply to loans made or purchased by the Federal National Mortgage Association, Federal Home Loan Corporation, or a bank, trust company, savings and loan association, or savings bank, that is regulated and supervised by a supervising federal agency, including the finance and operating subsidiaries of such entities that are so regulated and supervised. (b) This section shall not apply to any lender that is not federally regulated and supervised, except the Federal National Mortgage Association, or the Federal Home Loan Corporation. (c) Except as provided in subsection (d) of this section, the Home Ownership and Equity Protection Act of 1994, approved September 23, 1994 (108 Stat. 2190; codified in various sections of Chapter 16 of the U.S. Code), and the implementing regulations issued by the Federal Reserve Board, as each may be amended from time to time, are hereby adopted by reference thereto and shall apply to loans made or purchased by the Federal National Mortgage Association, Federal Home Loan Corporation, or a bank, trust company, savings and loan association, or savings bank that is regulated and supervised by a supervising federal agency, including the finance and operating subsidiaries of such entities that are so regulated and supervised, that engage in lending activities in the District. (d) The violations, remedies, penalties, and enforcement provisions set forth in subchapter III of this chapter shall apply to loans made or purchased by the Federal National Mortgage Association, Federal Home Loan Corporation, or a bank, trust company, savings and loan association, or savings bank that is regulated and supervised by a supervising federal agency, including the finance and operating subsidiaries of such entities that are so regulated and supervised, that engage in lending activities in the District with regard to violations of this chapter.  (May 7, 2002, D.C. Law 14-132, § 102, 49 DCR 2551.)  Section References This section is referenced in § 26-1153.01 and § 26-1153.05. Emergency Legislation For temporary (90 day) addition of section, see § 102 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534). References in Text The “Home Ownership and Equity Protection Act of 1994”, referred to in subsec. (c), is Pub. L. 103-325, Title I, Subtitle B, Sept. 23, 1994, 108 Stat. 2190, which is codified to various sections in Chapter 16 of Title 15 of U.S.C.
DC Code § 26-1152.01 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.01. Applicability

This subchapter shall only apply to a covered loan as defined in § 26-1151.01(7)(A).  (May 7, 2002, D.C. Law 14-132, § 201, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 201 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.03 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.03. Restrictions on the financing of single-premium credit insurance

A lender shall not sell any individual or group credit life, accident, health, or unemployment insurance product on a prepaid single premium basis in conjunction with a covered loan. Credit insurance sold by a lender on a basis other than a prepaid single premium shall be accompanied by a clear and conspicuous disclosure, provided at least 3 days before closing, stating that the credit insurance shall not be a condition to the extension of mortgage credit and that the borrower may elect not to purchase the insurance. Insurance premiums or debt cancellation or suspension fees calculated and paid on a monthly or bi-weekly basis shall not be considered financed by the lender; provided, that the disclosure required by this section shall be provided to the borrower for any insurance, debt cancellation, or suspension services purchased by the borrower.  (May 7, 2002, D.C. Law 14-132, § 203, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 203 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.04 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.04. Restriction on financing origination/discount points and fees

If a lender refinances a loan secured by the same residential real property to the same borrower which was made 18 months or less before the covered loan is made, the same lender shall not finance, directly or indirectly, any portion of the covered loan’s origination/discount points and fees or other fees payable to the lender or any third party in excess of the greatest of 3% of the new covered loan principal amount actually funded, $400, or such amount as the Mayor may establish by regulation, excluding: (1) Reasonable charges described in 12 C.F.R. § 226.4(c)(7)(i), (iii), (iv), and (v); and (2) Bona fide loan discount points.  (May 7, 2002, D.C. Law 14-132, § 204, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 204 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.05 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.05. No encouragement of default

A lender shall not recommend or encourage the borrower to default on an existing loan or other debt prior to and in connection with the closing or planned closing of a covered loan that refinances all or any portion of the existing loan or other debt.  (May 7, 2002, D.C. Law 14-132, § 205, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 205 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.06 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.06. Unfair steering or improper use of credit scores

(a) A lender shall not steer, counsel, or direct any prospective borrower to accept a loan product with a risk grade less favorable than the risk grade that the borrower would qualify for based on that lender’s then current underwriting guidelines, prudently applied, considering the information available to that lender, including the information provided by the borrower. A lender shall not violate this section if the risk grade determination applied to a borrower is reasonably based on the lender’s underwriting guidelines and if it is an appropriate risk grade category for which the borrower qualifies with the lender. (b) The lender shall not make, or cause to be made, any false, deceptive, or misleading statement, representation, or determination regarding the borrower’s ability to qualify for any mortgage product or the borrower’s credit score.  (May 7, 2002, D.C. Law 14-132, § 206, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 206 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.07 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.07. Failing to report favorable payment record

A lender or its servicer shall report a borrower’s favorable payment history and information to a nationally recognized credit-reporting agency at least once every 12 months. This section shall not prevent a lender or its servicer from agreeing with the borrower not to report payment history information and shall not apply to covered loans held or serviced by a lender for less than 90 days. Nothing in this section shall prevent a lender from reporting a borrower’s unfavorable payment history.  (May 7, 2002, D.C. Law 14-132, § 207, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 207 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.08 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.08. Home improvement contracts

(a) A lender shall not pay a contractor under a home improvement contract from the proceeds of a covered loan other than by an instrument payable to the borrower or jointly payable to the borrower and the contractor or, at the election of the borrower, through a third-party escrow agent that is independent from the contractor in accordance with the terms established in a written agreement signed by the borrower, the mortgage lender, and the contractor prior to the disbursement of funds to the contractor. The borrower shall be responsible for any reasonable fees or costs associated with the election. A lender may conclusively rely on a certified written statement from either the contractor or the third-party escrow agent that states that the escrow agent and contractor are independent from each other. (b) A lender shall not purchase a home improvement contract in connection with, or make an instrument payable to, a home improvement contractor that is not bonded with the District pursuant to subchapter IV of Chapter 28 of Title 47. The Mayor shall maintain a list of home improvement contractors that are bonded and in good standing. Unless the lender has notice that the contractor is not licensed or authorized to do business in the District, a lender who relies on the list within 60 days of the closing shall be considered in compliance with this section; provided, that the lender has provided the Mayor with a name, telephone number, mailing address, and electronic mail address of a contact person to whom the Mayor can provide updates or amendments to the list required by this subsection.  (May 7, 2002, D.C. Law 14-132, § 208, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 208 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.09 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.09. No increase in interest rate upon default

A lender shall not make a covered loan that includes a provision that increases the covered loan’s interest rate upon a default. This section shall not apply to an interest rate increase in adjustable rate covered loans based on a recognized adjustable rate mortgage index and constant margin amount if an event of default or the acceleration of the maturity date of the covered loan does not cause or permit the increase in the interest rate.  (May 7, 2002, D.C. Law 14-132, § 209, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 209 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.10 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.10. Charges in bad faith

A lender shall not charge and retain fees paid by the borrower in making a covered loan which are: (1) For services that are not actually performed; (2) For loan discount points which are not bona fide discount points; or (3) In violation of the Real Estate Procedures Settlement Act of 1974, approved December 22, 1974 (88 Stat. 1724; 12 U.S.C. § 2601 et seq.).  (May 7, 2002, D.C. Law 14-132, § 210, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 210 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.11 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.11. Failure to timely send disclosure notice

(a) In making a covered loan, a lender shall send to the borrower a Red Flag Warning Disclosure Notice. (b) This notice shall be received by the borrower at least 3 business days prior to closing of the loan. (c) If the loan is originated with the assistance of a mortgage broker, the mortgage broker shall provide the Red Flag Warning Disclosure Notice. (d) Only one Red Flag Warning Disclosure Notice must be provided to each borrower. (e) The Mayor shall promulgate, by regulation, the Red Flag Warning Disclosure Notice and instructions for completing, executing, and sending the disclosure notice. The Mayor may revise the disclosure notice or instructions at any time not less than 90 days in advance of the publication in the District of Columbia Register. After the publication of a revised disclosure notice or revised instructions, either the existing or revised instructions may be followed and either the existing or revised disclosure notice shall be accepted until the advance publication period expires.  (May 7, 2002, D.C. Law 14-132, § 211, 49 DCR 2551.)  Section References This section is referenced in § 26-1151.01 and § 26-1153.01. Emergency Legislation For temporary (90 day) addition of section, see § 211 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.12 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.12. Prepayment premium, fee or charge

A lender shall not include in a covered loan or collect or attempt to collect any prepayment premium, fee, or charge in violation of Chapter 33 of Title 28.  (May 7, 2002, D.C. Law 14-132, § 212, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 212 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.13 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.13. Limitations on balloon payments

A lender shall not make a covered loan that provides for a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments unless the balloon payment becomes due and payable not less than 7 years after the date of the loan closing. This section shall not apply if the payment schedule is adjusted to account for the seasonal or irregular income of the borrower or if the loan is a bridge loan connected with or related to the acquisition or construction of a dwelling intended to become the borrower’s principal dwelling.  (May 7, 2002, D.C. Law 14-132, § 213, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 213 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.14 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.14. No call provision

A lender shall not make a covered loan that includes a call provision that permits the lender, in its sole discretion, to accelerate the indebtedness; provided, that this prohibition shall not apply when repayment of the covered loan has been accelerated by a bona fide default or pursuant to some other provision of the loan agreement unrelated to the payment schedule.  (May 7, 2002, D.C. Law 14-132, § 214, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 214 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.15 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.15. No negative amortization

A lender shall not make a covered loan with a payment schedule with regular periodic payments that causes the principal balance to increase.  (May 7, 2002, D.C. Law 14-132, § 215, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 215 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.16 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.16. No advance payments

A lender shall not make a covered loan that includes terms under which any periodic payments required under the loan are paid in advance from loan proceeds.  (May 7, 2002, D.C. Law 14-132, § 216, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 216 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
DC Code § 26-1152.17 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 11A - Home Loan Protection|Subchapter II - Prohibited Practices|§ 26-1152.17. No advance waivers

A provision in a covered loan whereby a borrower waives in advance a violation of this chapter shall be void.  (May 7, 2002, D.C. Law 14-132, § 217, 49 DCR 2551.)  Emergency Legislation For temporary (90 day) addition of section, see § 217 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).