Under the new prepayment penalty endurance, a credit deal covered by the customer's prominent hold was a top-pricing mortgage in the event the:
- this new creditor is also demand prepayment penalties, since discussed into the twelve C.F.R. (b)(6) , more than 3 years immediately following consummation otherwise account beginning; or
- the fresh new prepayment punishment can also be meet or exceed 2 % of the prepaid number. eleven