Pennsylvania Code
Title 10 - BANKING AND SECURITIES
Part III - Savings Association Bureau
Chapter 31 - INVESTMENT OPERATIONS
Section 31.1 - Maximum principal amount of loans over 80% of fair market value

Universal Citation: 10 PA Code ยง 31.1

Current through Register Vol. 54, No. 12, March 23, 2024

(a) The principal of the obligation on loans in excess of 80% of the fair market value of one family residential property to be encumbered shall not exceed $40,000 provided, however, that there shall be no amount limitation if at least the top 20% of such loan is insured or guaranteed by a mortgage insurance company which has been approved by the Department and licensed by the Insurance Department of the Commonwealth.

(b) Such loans shall not exceed 90% of fair market value.

The provisions of this section cited in 10 Pa. Code § 31.2 (relating to loans in excess of statutory authorization on one-family residential properties).

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