SECTION 83.852. Loan Size, Duration, and Schedule of Installments: Limitation

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When making or negotiating a loan under Texas Finance Code, Chapter 342, licensees must consider, in determining the size, duration, and schedule of installments of a loan, the financial ability of the borrower to repay the loan. The lender should evaluate whether the borrower should be reasonably able to repay the loan in cash in the time and means provided in the loan contract and repay all other known obligations concurrently.

Source Note: The provisions of this §83.852 adopted to be effective November 9, 2006, 31 TexReg 9014; amended to be effective November 4, 2010, 35 TexReg 9698

                    
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