Any prepayment costs otherwise penalties payable by borrower for the a refinancing purchase if for example the lender otherwise an affiliate marketer of your own lender ‘s the noteholder of your own note are refinanced;
(4) No take advantage of refinancing present high?cost home loan having new high?rates financial. ? A loan provider may not costs a debtor points and you can charges inside the contact with a leading?pricing home loan in case the proceeds of the higher?prices financial are widely used to refinance a preexisting higher?prices financial held of the same bank due to the fact noteholder.
(5) Restrictions to your home?update deals. ? A lender might not pay a contractor under a home?improvement package on the proceeds of a high?rates financial except that (i) by the something payable towards the debtor or jointly towards borrower therefore the contractor, or (ii) at the election of the debtor, as a result of a third?team escrow broker in line with conditions established in a written agreement closed because of the borrower, the lender, as well as the specialist before the disbursement.