{"data":{"id":"us/12-cfr-34.23","jurisdiction":"us","citation":"12 CFR 34.23","heading":"Prepayment fees.","body":"A national bank offering or purchasing ARM loans may impose fees for prepayments notwithstanding any State law limitations to the contrary. For purposes of this section, prepayments do not include:\n(a) Payments that exceed the required payment amount to avoid or reduce negative amortization; or\n(b) Principal payments, in excess of those necessary to retire the outstanding debt over the remaining loan term at the then-current interest rate, that are made in accordance with rules governing the determination of monthly payments contained in the loan documents.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 34—REAL ESTATE LENDING AND APPRAISALS","Subpart B—Adjustable-Rate Mortgages"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"c9803ebd9c768e341db016d02ac7d51a59120baab6e208474248f605b75b7798","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-34.22","next":"us/12-cfr-34.24"},"notice":"GroundRules: Original legal text. Not legal advice."}