™Your Policy Risk Impact Agent
0 chapters · 408 sections in this title.
Colo. Rev. Stat. § 5-3.5-101 Definitions
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As used in this article, unless the context otherwise requires: (1) "Bridge loan" means temporary or short-term financing with a maturity of less than eighteen months that requires payments of only interest until the entire unpaid balance is due and payable. (2) "Covered loan" me…
Colo. Rev. Stat. § 5-3.5-102 Protection of obligors
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(1) A covered loan is subject to the following limitations: (a) Limitation on balloon payment. No covered loan may contain a provision for a scheduled payment that is more than twice as large as the average of earlier regularly scheduled payments, unless such balloon payment beco…
Colo. Rev. Stat. § 5-3.5-103 Restricted acts and practices
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(1) The following acts and practices are prohibited in the making of a covered loan: (a) No lending without cautionary notice. (I) A lender may not make a covered loan unless the lender or a mortgage broker has given the following notice, or a substantially similar notice, in wri…
Colo. Rev. Stat. § 5-3.5-104 Reporting to credit bureaus
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A lender or its servicer shall report at least quarterly both the favorable and unfavorable payment history information of the obligor on payments due to the lender on a covered loan to a nationally recognized consumer credit reporting agency. This section shall not prevent a len…