reglab/housing_qa huggingface dataset:
IN Code § 24-9-3-0.1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-0.1. Chapter Not Applicable to Loans Made Before January 1, 2005

Sec. 0.1. Notwithstanding the addition of this chapter and IC 24-9-4 by P.L.73-2004, a person is not subject to a prohibition or requirement of this chapter and IC 24-9-4, both as added by P.L.73-2004, with respect to a loan made before January 1, 2005.As added by P.L.220-2011, SEC.400.
IN Code § 24-9-3-1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-1. Financing of Certain Premiums, Penalties, and Fees Prohibited

Sec. 1. (a) A creditor making a home loan may not finance, directly or indirectly, any:(1) credit life insurance;(2) credit disability insurance;(3) credit unemployment insurance;(4) credit property insurance; or(5) payments directly or indirectly for any cancellation suspension agreement or contract.(b) Insurance premiums, debt cancellation fees, or suspension fees calculated and paid on a monthly basis are not considered to be financed by the creditor for purposes of this chapter.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-3-2 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-2. Subsidized Low Rate Loans

Sec. 2. (a) A creditor may not knowingly or intentionally replace or consolidate a zero (0) interest rate or other subsidized low rate loan made by a governmental or nonprofit lender with a high cost home loan within the first ten (10) years of the subsidized low rate loan unless the current holder of the loan consents in writing to the refinancing.(b) For purposes of this section, a "subsidized low rate loan" is a loan that carries a current interest rate of at least two (2) percentage points below the current yield on treasury securities with a comparable maturity. If the loan's current interest rate is either a discounted introductory rate or a rate that automatically steps up over time, the fully indexed rate or the fully stepped up rate, as appropriate, should be used instead of the current rate to determine whether a loan is a subsidized low rate loan.(c) Each mortgage or deed of trust securing a zero (0) interest rate or other subsidized low rate loan executed after January 1, 2005, must prominently display the following on the face of the instrument:"This instrument secures a zero (0) interest rate or other subsidized low rate loan subject to IC 24-9-3-2.".(d) A creditor may reasonably rely on the presence or absence of the statement described in subsection (c) on the face of an instrument executed after January 1, 2005, as conclusive proof of the existence or nonexistence of a zero (0) interest rate or other subsidized low rate loan.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-3-3 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-3. Default on Existing Loan

Sec. 3. A creditor may not recommend or encourage default on an existing loan or other debt before and in connection with the closing or planned closing of a home loan that refinances all or part of the existing loan or debt.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-3-4 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-4. Date of Payment

Sec. 4. A creditor shall treat each payment made by a borrower in regard to a home loan as posted on the same business day as the payment was received by the creditor, servicer, or creditor's agent, or at the address provided to the borrower by the creditor, servicer, or creditor's agent for making payments.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-3-5 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-5. Loan Acceleration

Sec. 5. (a) A home loan agreement may not contain a provision that permits the creditor, in the creditor's sole discretion, to accelerate the indebtedness without material cause.(b) This section does not prohibit acceleration of a home loan in good faith due to the borrower's failure to abide by the material terms of the loan.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-3-8 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-8. Intimidation, Coercion, and Harassment Prohibited

Sec. 8. A person seeking to enforce section 7(c)(3), 7(c)(4), or 7(c)(5) of this chapter may not knowingly or intentionally intimidate, coerce, or harass another person.As added by P.L.73-2004, SEC.33. Amended by P.L.52-2009, SEC.8; P.L.105-2009, SEC.9.
IN Code § 24-9-3-9 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 3. Prohibited Lending Practices Generally|24-9-3-9. Prohibited Discrimination

Sec. 9. It is unlawful for a creditor to discriminate against any applicant with respect to any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, or age, if the applicant has the ability to contract.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-0.1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-0.1. Chapter Not Applicable to Loans Made Before January 1, 2005

Sec. 0.1. Notwithstanding the addition of IC 24-9-3 and this chapter by P.L.73-2004, a person is not subject to a prohibition or requirement of IC 24-9-3 and this chapter, both as added by P.L.73-2004, with respect to a loan made before January 1, 2005.As added by P.L.220-2011, SEC.401.
IN Code § 24-9-4-1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-1. Limitations and Prohibited Practices

Sec. 1. The following additional limitations and prohibited practices apply to a high cost home loan:(1) A creditor making a high cost home loan may not directly or indirectly finance any points and fees.(2) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). Prepayment fees or penalties may not be included in the loan documents for a high cost home loan or charged to the borrower if the fees or penalties exceed in total two percent (2%) of the high cost home loan amount prepaid during the first twenty-four (24) months after the high cost home loan closing.(3) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). A prepayment penalty may not be contracted for after the second year following the high cost home loan closing.(4) This subdivision does not apply to a high cost home loan described in IC 24-9-3-6(b). A creditor may not include a prepayment penalty fee in a high cost home loan unless the creditor offers the borrower the option of choosing a loan product without a prepayment fee. The terms of the offer must be made in writing and must be initialed by the borrower. The document containing the offer must be clearly labeled in large bold type and must include the following disclosure:"LOAN PRODUCT CHOICEI was provided with an offer to accept a product both with and without a prepayment penalty provision. I have chosen to accept the product with a prepayment penalty.".(5) A creditor shall not sell or otherwise assign a high cost home loan without furnishing the following statement to the purchaser or assignee:"NOTICE: This is a loan subject to special rules under IC 24-9. Purchasers or assignees may be liable for all claims and defenses with respect to the loan that the borrower could assert against the lender.".(6) A mortgage or deed of trust that secures a high cost home loan at the time the mortgage or deed of trust is recorded must prominently display the following on the face of the instrument:"This instrument secures a high cost home loan as defined in IC 24-9-2-8.".(7) A creditor making a high cost home loan may not finance, directly or indirectly, any life or health insurance.As added by P.L.73-2004, SEC.33. Amended by P.L.52-2009, SEC.9.
IN Code § 24-9-4-2 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-2. Points and Fees Charged in Certain Refinance Transactions; Evasive Division of Home Loans Prohibited

Sec. 2. A creditor may not knowingly or intentionally:(1) refinance a high cost home loan by charging points and fees on the part of the proceeds of the new high cost home loan that is used to refinance the existing high cost loan within four (4) years of the origination of the existing high cost home loan; or(2) divide a home loan transaction into multiple transactions with the effect of evading this article. Where multiple transactions are involved, the total points and fees charged in all transactions shall be considered when determining whether the protections of this section apply.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-3 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-3. Balloon Payments

Sec. 3. Notwithstanding IC 24-4.5-3-402, a high cost home loan agreement may not require a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments under the high cost home loan agreement unless the payment becomes due and payable at least one hundred twenty (120) months after the date of the high cost home loan. This prohibition does not apply if:(1) the payment schedule is adjusted to account for the seasonal or irregular income of the borrower; or(2) 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.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-4 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-4. Payment Terms; Collection of Interest Due

Sec. 4. (a) Except as provided in subsection (b), a high cost home loan may not include payment terms under which the outstanding principal balance will increase at any time over the course of the high cost home loan because the regular periodic payments do not cover the full amount of interest due.(b) This section does not apply to a temporary forbearance that is requested by a borrower regarding a high cost home loan.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-5 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-5. Acceleration After Default

Sec. 5. A high cost home loan may not contain a provision that increases the interest rate after default. However, this section does not apply to interest rate changes in a variable rate loan otherwise consistent with the provisions of the high cost home loan documents if the change in the interest rate is not triggered by the event of default or the acceleration of the indebtedness.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-6 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-6. Consolidated Periodic Payments Paid From Loan Proceeds

Sec. 6. A high cost home loan may not include terms under which more than two (2) periodic payments required under the high cost home loan are consolidated and paid in advance from the high cost home loan proceeds provided to the borrower.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-7 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-7. Counseling Agency Contact Information

Sec. 7. A creditor may not make a high cost home loan without first providing the borrower information to facilitate contact with a nonprofit counseling agency certified by:(1) the United States Department of Housing and Urban Development; or(2) the Indiana housing and community development authority under IC 5-20-1-4(d);at the same time as the good faith estimates are provided to the borrower in accordance with the requirements of the federal Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) as amended.As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.415; P.L.32-2021, SEC.66.
IN Code § 24-9-4-8 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-8. Repayment Ability; Commercially Reasonable Practices to Determine Debt to Income Ratio

Sec. 8. (a) A creditor may not make a high cost home loan without regard to repayment ability.(b) If a creditor presents evidence that the creditor followed commercially reasonable practices in determining the borrower's debt to income ratio, there is a rebuttable presumption that the creditor made the high cost home loan with due regard to repayment ability. For purposes of this section, there is a rebuttable presumption that the borrower's statement of income provided to the creditor is true and complete.(c) Commercially reasonable practices include the use of:(1) the debt to income ratio:(A) listed in 38 CFR 36.4337(c)(1); and(B) defined in 38 CFR 36.4337(d); and(2) the residual income guidelines established under:(A) 38 CFR 36.4337(e); and(B) United States Department of Veterans Affairs form 26-6393.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-9 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-9. Payments to Home Improvement Contractors

Sec. 9. A creditor may not pay a contractor under a home improvement contract from the proceeds of a high cost home loan unless:(1) the creditor is presented with a signed and dated completion certificate showing that the home improvements have been completed; and(2) the instrument is payable to the borrower or jointly to the borrower and the contractor or, at the election of the borrower, through a third party escrow agent under a written agreement signed by the borrower, the creditor, and the contractor before the disbursement.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-10 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-10. Modification, Renewal, Extension, Amendment, or Deferral of Loan Terms; Fees and Charges Prohibited

Sec. 10. A creditor may not charge a borrower any fees or other charges to modify, renew, extend, or amend a high cost home loan or to defer a payment due under the terms of a high cost home loan.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-4-11 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-11. Notice to Borrower

Sec. 11. A creditor may not make a high cost home loan unless the creditor has given the following notice, in writing, to the borrower not later than the time that notice is required under 12 CFR 226.31(c):"NOTICE TO BORROWERYOU SHOULD BE AWARE THAT YOU MIGHT BE ABLE TO OBTAIN A LOAN AT A LOWER COST. YOU SHOULD COMPARE LOAN RATES, COSTS, AND FEES. MORTGAGE LOAN RATES AND CLOSING COSTS AND FEES VARY BASED ON MANY FACTORS, INCLUDING YOUR PARTICULAR CREDIT AND FINANCIAL CIRCUMSTANCES, YOUR EMPLOYMENT HISTORY, THE LOAN-TO-VALUE REQUESTED, AND THE TYPE OF PROPERTY THAT WILL SECURE YOUR LOAN. THE LOAN RATE, COSTS, AND FEES COULD ALSO VARY BASED ON WHICH CREDITOR OR BROKER YOU SELECT.IF YOU ACCEPT THE TERMS OF THIS LOAN, THE CREDITOR WILL HAVE A MORTGAGE LIEN ON YOUR HOME. YOU COULD LOSE YOUR HOME AND ANY MONEY YOU HAVE PAID IF YOU DO NOT MEET YOUR PAYMENT OBLIGATIONS UNDER THE LOAN.YOU SHOULD CONSULT AN ATTORNEY AND A QUALIFIED INDEPENDENT CREDIT COUNSELOR OR OTHER EXPERIENCED FINANCIAL ADVISER REGARDING THE RATE, FEES, AND PROVISIONS OF THIS MORTGAGE LOAN BEFORE YOU PROCEED. A LIST OF QUALIFIED COUNSELORS IS AVAILABLE FROM THE INDIANA HOUSING AND COMMUNITY DEVELOPMENT AUTHORITY.YOU ARE NOT REQUIRED TO COMPLETE THIS LOAN AGREEMENT MERELY BECAUSE YOU HAVE RECEIVED THIS DISCLOSURE OR HAVE SIGNED A LOAN APPLICATION. REMEMBER, PROPERTY TAXES AND HOMEOWNER'S INSURANCE ARE YOUR RESPONSIBILITY. NOT ALL CREDITORS PROVIDE ESCROW SERVICES FOR THESE PAYMENTS. YOU SHOULD ASK YOUR CREDITOR ABOUT THESE SERVICES.ALSO, YOUR PAYMENTS ON EXISTING DEBTS CONTRIBUTE TO YOUR CREDIT RATINGS. YOU SHOULD NOT ACCEPT ANY ADVICE TO IGNORE YOUR REGULAR PAYMENTS TO YOUR EXISTING CREDITORS.".As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.416.
IN Code § 24-9-4-12 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 4. Additional Prohibitions for High Cost Home Loans|24-9-4-12. High Cost Home Loan Agreements; Unconscionable and Void Provisions

Sec. 12. Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a provision of a high cost home loan agreement that:(1) requires arbitration of a claim or defense;(2) allows a party to require a borrower to assert a claim or defense in a forum that is:(A) less convenient;(B) more costly; or(C) more dilatory;for the resolution of the dispute than an Indiana court in which the borrower may otherwise bring a claim or defense; or(3) limits in any way any claim or defense the borrower may have;is unconscionable and void.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-5-2 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 5. Claims, Defenses, Remedies|24-9-5-2. Acceleration; Reinstatement of High Cost Home Loan After Cure of Default

Sec. 2. (a) If a creditor asserts that grounds for acceleration under the terms of a high cost home loan exist and requires the payment in full of all sums secured by the security instrument, the borrower or a person authorized to act on the borrower's behalf at any time before the title is transferred by means of foreclosure, judicial proceeding and sale, or otherwise may cure the default and reinstate the high cost home loan by tendering the amount or performance as specified in the security instrument.(b) If the borrower cures the default on a high cost home loan, the original loan terms shall be reinstated, and any acceleration of any obligation under the security instrument or note arising from the default is nullified as of the date of the cure.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-5-3 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 5. Claims, Defenses, Remedies|24-9-5-3. Foreclosure Proceedings

Sec. 3. (a) A creditor making a high cost home loan that has the right to foreclose must use the judicial foreclosure procedures of the state in which the property securing the high cost home loan is located. The borrower has the right to assert in the proceeding the nonexistence of a default and any other claim or defense to acceleration and foreclosure, including any claim or defense based on any violations of this article.(b) This section is not intended and shall not be construed to allow any claim or defense otherwise barred by any statute of limitation or repose.As added by P.L.73-2004, SEC.33.
IN Code § 24-9-5-4 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 5. Claims, Defenses, Remedies|24-9-5-4. Liability for Violation; Exceptions; Damages; Equitable Relief; Recoupment; Action by Homeowner Protection Unit for Deceptive Act; Statute of Limitations; Priority of Damages Over Civil Penalties

Sec. 4. (a) This section does not apply to a violation of IC 24-9-3-7(c)(4), IC 24-9-3-7(c)(5), or IC 24-9-3-7(c)(6). A person who violates this article is liable to a person who is a party to the home loan transaction, mortgage transaction (as defined in IC 24-9-3-7(a)), or real estate transaction (as defined in IC 24-9-3-7(b)), as appropriate, that gave rise to the violation for the following:(1) Actual damages, including consequential damages. A person is not required to demonstrate reliance in order to receive actual damages.(2) Statutory damages equal to two (2) times the finance charges agreed to in a home loan agreement.(3) Costs and reasonable attorney's fees.(b) A person may be granted injunctive, declaratory, and other equitable relief as the court determines appropriate in an action to enforce compliance with this chapter.(c) The right of rescission granted under 15 U.S.C. 1601 et seq. for a violation of the federal Truth in Lending Act (15 U.S.C. 1601 et seq.) is available to a person acting only in an individual capacity by way of recoupment as a defense against a party foreclosing on a home loan at any time during the term of the loan. Any recoupment claim asserted under this provision is limited to the amount required to reduce or extinguish the person's liability under the home loan plus amounts required to recover costs, including reasonable attorney's fees. This article shall not be construed to limit the recoupment rights available to a person under any other law.(d) The remedies provided in this section are cumulative but are not intended to be the exclusive remedies available to a person. Except as provided in subsection (e), a person is not required to exhaust any administrative remedies under this article or under any other applicable law.(e) Before bringing an action regarding an alleged deceptive act under this chapter, a person must:(1) notify the homeowner protection unit established by IC 4-6-12-2 of the alleged violation giving rise to the action; and(2) allow the homeowner protection unit at least ninety (90) days to institute appropriate administrative and civil action to redress a violation.(f) An action under this chapter must be brought within five (5) years after the date that the person knew, or by the exercise of reasonable diligence should have known, of the violation of this article.(g) An award of damages under subsection (a) has priority over a civil penalty imposed under this article.As added by P.L.73-2004, SEC.33. Amended by P.L.3-2005, SEC.1; P.L.105-2009, SEC.10; P.L.114-2010, SEC.19.
IN Code § 24-9-5-4.1 (2021)
2021 Indiana Code|Title 24. Trade Regulation|Article 9. Home Loan Practices|Chapter 5. Claims, Defenses, Remedies|24-9-5-4.1. General Assembly Intent Relating to Certain Amendments Made to Section 4 of This Chapter

Sec. 4.1. The general assembly intends the amendment of section 4(c) of this chapter made by P.L.3-2005 to:(1) be construed together with section 4(c) of this chapter as enacted by P.L.73-2004, SECTION 33; and(2) apply as if the language of section 4(c) of this chapter, as amended by P.L.3-2005, SECTION 1, had been part of section 4(c) of this chapter as first enacted.As added by P.L.220-2011, SEC.402.