W. Va. Code R. § 106-5-15

Current through Register Vol. XLI, No. 49, December 6, 2024

Section 106-5-15 - Tangible Net Benefit Determinations

15.1. A broker and lender licensee must document tangible net benefit to the borrower before arranging or making any residential mortgage loan that refinances an existing residential mortgage loan that closed within 24 months of the proposed refinancing. This duty exists even if the broker or lender did not arrange or make the existing loan that will be refinanced.