La. Admin. Code tit. 19, § VII-7215 - Loan Loss Contributions
A. When
making an enrolled loan, the lender shall charge the borrower no less than 2
percent and no more than 3.5 percent of the loan amount for their contribution
to the loan loss fund and the lender shall match the contribution with a like
percentage. The bank shall deposit the contributions in the loan loss fund at
closing. LEDC will contribute the same percentage of the loan amount as the
bank at the time it is notified of the enrollment of the loan.
Notes
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