A high-cost home mortgage loan shall not include terms pursuant to which more than 2 periodic payments required under the loan are consolidated and paid in advance from the loan proceeds provided to the borrower.
Mass. Gen. Laws ch. 183C, § 12
Consolidation of payments
Known as the Predatory Home Loan Practices Act
The act spans §§ 183–183 (19 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.