05. No encouragement of default. A lender shall not recommend or encourage the borrower to default on an existing loan or other debt prior to and in connection with the closing or planned closing of a covered loan that refinances all or any portion of the existing loan or other debt. (May 7, 2002, D.C. Law 14-132, § 205, 49 DCR 2551.) Emergency Legislation For temporary (90 day) addition of section, see § 205 of Home Loan Protection Emergency Act of 2002 (D.C. Act 14-295, March 1, 2002, 49 DCR 2534).
District of Columbia Legal Code