Sec. 5. As used in this chapter, "graduated payment mortgage loan" or "GPM loan" means a mortgage loan under which:
(1) the scheduled repayments begin at a level lower than that of a comparable standard mortgage loan and rise to a point determined by the loan documents; and
(2) the period of the rise, the rate of increase, and the interest rate are fixed in the loan documents.
As added by P.L.193-1997, SEC.2.
Structure Indiana Code
Title 28. Financial Institutions
Article 15. Savings Associations
Chapter 11. Alternative Mortgage Loans of Savings Associations
28-15-11-1. "Adjustable Mortgage Loan"
28-15-11-2. "Alternative Mortgage Loan"
28-15-11-4. "Federal Savings Association"
28-15-11-5. "Graduated Payment Mortgage Loan"
28-15-11-7. "Money Cost Index"
28-15-11-9. "Reverse Annuity Mortgage Loan" or "Ram Loan"
28-15-11-10. "Rollover Mortgage"
28-15-11-11. "Standard Mortgage Loan"
28-15-11-12. Regulation of Graduated Payment Mortgage Loans
28-15-11-14. Regulation of Adjustable Mortgage Loans
28-15-11-15. Restrictions on Graduated Payment Adjustable Mortgage Loans
28-15-11-16. Regulation of Rollover Mortgage Loans
28-15-11-17. Alternative Mortgage Loans; Required Disclosures
28-15-11-18. Inapplicability of Indiana Laws; Interest Added to Principal; Lien Provided by Mortgage