A lender shall not charge and retain fees paid by the borrower in making a covered loan which are:

1. (1) For services that are not actually performed;
2. (2) For loan discount points which are not bona fide discount points; or
3. (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.).

History

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).