reglab/housing_qa huggingface dataset:
TX Fin Code § 347.105 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.105. Maximum Rate Adjustments

Sec. 347.105.  MAXIMUM RATE ADJUSTMENTS.  (a)  The total of the rate adjustments for any six-month period may not exceed one-half of one percent a year.(b)  If the stated interval for rate adjustments is a 12-month period or longer, a rate adjustment may not exceed one percent a year.(c)  The total of all rate adjustments over the term of the credit transaction may not exceed the least of:(1)  one-half of the initial rate;(2)  eight percent;  or(3)  a rate, expressed as a percentage, computed by dividing the term of the loan in years by two.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.106 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.106. Mandatory Decrease; Optional Increase

Sec. 347.106.  MANDATORY DECREASE;  OPTIONAL INCREASE.  (a)  If a computation under Section 347.104 results in a decrease, the creditor shall decrease the credit transaction's rate.  If the creditor has agreed to impose periodic or aggregate limitations on rate adjustments that are smaller or more restrictive than the limitations prescribed by Section 347.105, those limitations apply to the decrease.(b)  A creditor may waive an increase that results from a computation under Section 347.104.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.107 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.107. Notice of Rate Adjustment

Sec. 347.107.  NOTICE OF RATE ADJUSTMENT.  (a)  After the notice provided by this section has been given, the rate shall be increased or decreased by the amount determined by this subchapter.(b)  Before the 40th day preceding the payment date on which a rate adjustment is to take effect, the creditor shall mail to the consumer, postage prepaid, a notice that states:(1)  the initial credit transaction rate or the adjusted rate in effect on the date of the notice, as appropriate;(2)  the index base, or the index value used to compute the preceding rate adjustment, as appropriate, and the date on which the index base or value was determined;(3)  the index value used to compute the rate adjustment for which the notice is sent and the date on which the index value was determined;(4)  the amount of the rate adjustment;(5)  the new adjusted rate;(6)  the amount of the monthly payments on the indebtedness on the date of the notice;(7)  the adjusted amount of the monthly payments and the date on which the adjustment takes effect;  and(8)  a statement of the prepayment rights of the consumer as set forth in the credit document.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.108 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.108. Prohibition on Use of Rate Adjustment and Certain Mortgages

Sec. 347.108.  PROHIBITION ON USE OF RATE ADJUSTMENT AND CERTAIN MORTGAGES.  A credit transaction that provides for a rate adjustment under this subchapter may not permit the rate adjustment to be combined with a mortgage loan that has a term of five years or less or contain a provision that otherwise additionally allows the creditor to renegotiate, modify, or otherwise adjust the rate or term of the transaction within the 60-month period after the date of the transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.109 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.109. Computation of Finance Charge for Disclosure

Sec. 347.109.  COMPUTATION OF FINANCE CHARGE FOR DISCLOSURE.  (a)  This section applies only for purposes of disclosure.(b)  The finance charge on a credit transaction is computed on the unpaid balance from the effective date of the transaction provided by the credit document until the payment date of the final installment, notwithstanding that the total of payments is required to be repaid in installments.(c)  The finance charge on a credit transaction that includes an adjustable rate provision is computed on the amount financed using the initial contract rate.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.110 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter C. Finance Charge Rates and Adjustments|Section 347.110. Use of Optional Ceiling

Sec. 347.110.  USE OF OPTIONAL CEILING.  (a)  This section applies to a credit transaction only if the federal usury preemptions for residential mortgage loans contained in the Veterans' Disability Compensation and Survivors' Benefits Act of 1979 (38 U.S.C. Section 101 et seq.), the Housing and Community Development Act of 1979 (42 U.S.C. Section 5401 et seq.), and the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. Section 1735f-7) are expressly made inapplicable to transactions made in this state by an Act of the legislature of this state.  Application of this section begins on the effective date of that Act.(b)  The interest or time price differential in a credit transaction may not exceed the amount obtained by applying a simple interest rate equal to 13.32 percent a year to the unpaid balance for the scheduled term of the transaction.(c)  If the credit transaction is payable for a period that is shorter or longer than a year or is for an amount that is less or greater than $100, the amount of the maximum charge computed under this section is decreased or increased proportionately.(d)  For the purpose of a computation under this section, 15 or more days of a month may be considered a full month.(e)  A transaction payable other than in substantially equal successive monthly installments beginning one month from the date of the credit document may provide for a finance charge that does not exceed an amount that, having due regard for the schedule of payments, provides the same effective return as if the credit transaction were payable in substantially equal successive monthly installments beginning one month from the date of the credit document.(f)  As an alternative to the rate authorized under Subsection (b), a credit transaction may provide for a rate that does not exceed the applicable optional interest rate ceiling under Chapter 303.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.151 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter D. Amendment or Prepayment of Credit Transaction|Section 347.151. Amendment of Credit Transaction

Sec. 347.151.  AMENDMENT OF CREDIT TRANSACTION.  (a)  On a consumer's request, a creditor may:(1)  extend or defer the scheduled due date of all or part of one or more installments of the credit transaction;(2)  renew, restate, or reschedule the unpaid balance of the transaction;  or(3)  increase or reduce the number of installments of the transaction.(b)  A creditor may collect a charge that does not exceed the amount computed by applying the credit transaction's interest rate or time price differential applicable on the date of adjustment to the remaining amount of the unpaid balance, computed under Section 347.155, for the period that the amount is extended or deferred.(c)  The creditor and consumer may agree to an unlimited number of extensions.  The period of each extension is the period agreed to by the creditor and consumer.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.152 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter D. Amendment or Prepayment of Credit Transaction|Section 347.152. Alternate Method of Amendment of Credit Transaction

Sec. 347.152.  ALTERNATE METHOD OF AMENDMENT OF CREDIT TRANSACTION.  (a)  As an alternative to Section 347.151 the creditor, on the consumer's request, may agree to amend an original credit transaction by renewing, restating, or rescheduling the unpaid part of the total of payments.(b)  The charge for the amended credit transaction is computed on the unpaid balance of the transaction for the term of the transaction at the rate applicable to the transaction.(c)  For the purpose of Subsection (b), the unpaid balance of an amended credit transaction is computed by:(1)  adding:(A)  the unpaid balance of the transaction preceding the amendment;(B)  the cost of insurance incidental to the amendment;(C)  additional necessary official fees;  and(D)  each accrued delinquency and collection charge;  and(2)  subtracting from the total under Subdivision (1) the prepayment refund credit required by Section 347.155.(d)  The provisions of this chapter relating to minimum charges and acquisition costs do not apply to the computation of the unpaid balance for an amended credit transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.153 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter D. Amendment or Prepayment of Credit Transaction|Section 347.153. Requirements for Amendment

Sec. 347.153.  REQUIREMENTS FOR AMENDMENT.  (a)  Before an amendment of a credit transaction may take effect it must be:(1)  confirmed in writing;(2)  signed by the consumer;  and(3)  returned to the creditor.(b)  The writing must state:(1)  the terms of the amendment;  and(2)  the new due dates and amounts of the installments.(c)  The creditor shall:(1)  deliver a copy of the writing to the consumer;  or(2)  mail a copy of the writing to the consumer's address shown on the credit document.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.154 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter D. Amendment or Prepayment of Credit Transaction|Section 347.154. Oral Amendment Not Binding

Sec. 347.154.  ORAL AMENDMENT NOT BINDING.  An oral amendment to a credit transaction is not binding on the consumer or the creditor.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.155 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter D. Amendment or Prepayment of Credit Transaction|Section 347.155. Prepayment

Sec. 347.155.  PREPAYMENT.  (a)  A consumer may prepay in full the unpaid balance of a credit transaction at any time before maturity.(b)  On prepayment, after deduction of an acquisition charge that does not exceed $50, the consumer is entitled to a refund credit of the time price differential or interest.  The amount of the credit is computed on an actuarial basis in accordance with regulations of the Office of the Comptroller of the Currency adopted under the Depository Institutions Deregulation and Monetary Control Act of 1980 (12 U.S.C. Section 1735f-7a et seq.) for the prepayment of a mortgage loan that is secured by a first lien on a residential manufactured home.(c)  In making the computation under Subsection (b), the creditor may assume that payments on the credit transaction have been made as originally scheduled, ignoring any difference created by a late or early payment.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2017, 85th Leg., R.S., Ch. 408 (H.B. 2019), Sec. 75, eff. September 1, 2017.|
TX Fin Code § 347.201 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.201. Property Insurance

Sec. 347.201.  PROPERTY INSURANCE.  (a)  A creditor may require a consumer to insure the property involved in a credit transaction with coverage designated by the creditor.(b)  Insurance required under this section may include federal flood coverage.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.202 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.202. Statement of Required Insurance

Sec. 347.202.  STATEMENT OF REQUIRED INSURANCE.  (a)  If insurance is required in connection with a credit transaction, the creditor shall give to the consumer a statement that clearly and conspicuously states that:(1)  insurance is required in connection with the transaction;  and(2)  the consumer as an option may obtain and furnish equivalent insurance coverage through an insurance policy obtained from an insurance company authorized to do business in this state subject to the limitations of Section 347.208.(b)  The statement may be made with or be a part of the credit document.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.203 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.203. Consumer's Failure to Obtain Required Insurance

Sec. 347.203.  CONSUMER'S FAILURE TO OBTAIN REQUIRED INSURANCE.  (a)  If at any time the consumer fails to obtain the required insurance, the creditor may:(1)  treat the failure as a default;  or(2)  purchase the required insurance and add to the unpaid balance of the credit transaction the premium of the insurance and interest, at the interest rate or time price differential applicable to the transaction on the date the insurance is purchased.(b)  The insurance purchased under Subsection (a) may be in an amount up to but not in excess of the prepayment amount under Section 347.155 if the balance were prepaid on the date that the insurance is purchased.(c)  If insurance is purchased under Subsection (a), the creditor shall notify the consumer that:(1)  the insurance has been purchased under this section;  and(2)  the premium for the insurance and interest on the premium have been added to the unpaid balance.(d)  The creditor may determine the period and number of installments in which the consumer is to pay the premium and interest, including payment of the total amount on the date of the last installment, payment in equal increments added to each of the remaining installments, or payment in a lesser number of installments or in unequal increments.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.204 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.204. Purchase of Additional Insurance After Date of Credit Document

Sec. 347.204.  PURCHASE OF ADDITIONAL INSURANCE AFTER DATE OF CREDIT DOCUMENT.  (a)  A consumer may:(1)  purchase any insurance authorized by this chapter after the date of the credit document;  and(2)  include the amount of the insurance premium in the unpaid balance of the credit transaction.(b)  Interest accrues on the insurance premium at a rate that does not exceed the interest rate or time price differential applicable to the credit transaction on the date the insurance is purchased.(c)  The additional insurance premium and interest may be paid in any period and any number of installments to which the consumer and creditor agree.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.205 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.205. Statement for Purchase of Optional Insurance

Sec. 347.205.  STATEMENT FOR PURCHASE OF OPTIONAL INSURANCE.  (a)  A consumer who elects to purchase optional insurance must sign a statement that:(1)  indicates the consumer's election;  and(2)  describes the term, premium, and type of insurance purchased.(b)  The statement may be a part of the credit document or a part of a separate document.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.206 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.206. Requirements for Insurance Charge in Credit Transaction

Sec. 347.206.  REQUIREMENTS FOR INSURANCE CHARGE IN CREDIT TRANSACTION.  Insurance required by or included in a credit transaction must be written:(1)  at lawful rates;(2)  in accordance with the Insurance Code;  and(3)  by a company authorized to do business in this state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.207 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.207. Insurance Disclosures in Credit Document

Sec. 347.207.  INSURANCE DISCLOSURES IN CREDIT DOCUMENT.  A credit document must disclose:(1)  the term, premium, and type of insurance the cost of which is included in the unpaid balance of the credit transaction;  or(2)  the term and type of insurance required in accordance with this chapter if the cost of the insurance is not included in the unpaid balance.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.208 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.208. Creditor May Refuse to Accept Policy

Sec. 347.208.  CREDITOR MAY REFUSE TO ACCEPT POLICY.  (a)  If the consumer obtains insurance required under this chapter from someone other than the creditor, the creditor is entitled for good cause to refuse to accept certain insurance policies from insurance companies designated by the creditor.(b)  On the consumer's request the creditor shall deliver to the consumer a writing that states the reason for a refusal under Subsection (a).|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.209 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.209. Creditor's Duty if Insurance Is Canceled, Adjusted, or Terminated

Sec. 347.209.  CREDITOR'S DUTY IF INSURANCE IS CANCELED, ADJUSTED, OR TERMINATED.  (a)  If insurance for which a charge is included in a credit transaction is canceled, adjusted, or terminated, the creditor shall:(1)  credit to the final maturing installments of the credit transaction the amount of the refund received by the creditor for unearned insurance premiums;  and(2)  if the amount to be credited under Subdivision (1) is more than the unpaid balance of the credit transaction, refund to the consumer the difference between those amounts.(b)  A cash refund is not required under this section if the amount of the refund is less than $1.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.210 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.210. Single Interest Policy Prohibited

Sec. 347.210.  SINGLE INTEREST POLICY PROHIBITED.  Insurance that protects only the interest of the creditor is prohibited and may not be financed as part of a credit transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.211 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter E. Insurance|Section 347.211. Gain or Advantage From Insurance Not Charge

Sec. 347.211.  GAIN OR ADVANTAGE FROM INSURANCE NOT CHARGE.  Any gain or advantage to a creditor or a creditor's employee, officer, director, agent, general agent, affiliate, or associate from insurance under this chapter or the provision or sale of insurance is not an additional finance charge or an additional charge in connection with a credit transaction except as specifically provided by this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.251 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter F. Payment of Insurance and Taxes|Section 347.251. Financing Insurance

Sec. 347.251.  FINANCING INSURANCE.  (a)  A creditor may finance as part of a credit transaction insurance:(1)  required in accordance with Section 347.201;  or(2)  requested by the consumer.(b)  The cost of the insurance required under Section 347.201 may be included as a separate charge in the credit transaction.(c)  The premium of any insurance included in the credit transaction may be included in the unpaid balance of the credit transaction and paid as part of the total of payments regardless of whether the term of the insurance is less than the term of the credit transaction.(d)  A consumer and creditor may agree that the purchase of additional insurance under Section 347.204 will be:(1)  in accordance with an insurance premium financing agreement made under the Insurance Code;  and(2)  separate from the credit transaction.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 347.252 (2021)
2021 Texas Statutes|Finance Code|Title 4 - Regulation of Interest, Loans, and Financed Transactions|Subtitle B - Loans and Financed Transactions|Chapter 347 - Manufactured Home Credit Transactions|Subchapter F. Payment of Insurance and Taxes|Section 347.252. Payment of Insurance Premiums With Installments

Sec. 347.252.  PAYMENT OF INSURANCE PREMIUMS WITH INSTALLMENTS.  For insurance coverage required under Section 347.201 in the second and subsequent years of the credit transaction, a creditor may require the consumer to pay on each installment due date an amount equal to one-twelfth of the reasonably estimated yearly premium.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|