Section 3. A creditor may not make a high-cost home mortgage loan without first receiving certification from a counselor with a third-party nonprofit organization approved by the United States Department of Housing and Urban Development, a housing financing agency of this state, or the regulatory agency which has jurisdiction over the creditor, that the borrower has received counseling on the advisability of the loan transaction. Counseling shall be allowed in whole or in part by telephonic means. The commissioner shall maintain a list of approved counseling programs. A high cost home mortgage loan originated by a lender in violation of this section shall not be enforceable. At or before closing a high cost home mortgage loan, the lender shall obtain evidence that the borrower has completed an approved counseling program.
Structure Massachusetts General Laws
Part II - Real and Personal Property and Domestic Relations
Title I - Title to Real Property
Chapter 183c - Predatory Home Loan Practices
Section 3 - Certification From Counselor With Third-Party Nonprofit Organization
Section 4 - Obligor's Ability to Make Payments; Presumption
Section 5 - Prepayment Fees and Penalties
Section 6 - Limitation on Financing of Points and Fees
Section 7 - Interest Rate Increases
Section 8 - Limitation on Scheduled Payments
Section 9 - Demand for Repayment
Section 10 - Periodic Payment Schedule
Section 11 - No Fee to Modify or Defer Payment
Section 12 - Consolidation of Payments
Section 13 - Forum for Disputes
Section 14 - Lender's Payment of Contractor
Section 15 - Affirmative Claims and Defenses Available; Applicability
Section 16 - Default in Connection With Refinancing