(1) “financial institution”: a bank, a savings bank, a savings and loan association or a credit union, or a holding company, subsidiary or subsidiary of such an institution or a lender approved by the U.S. Minister of Housing and Urban Development to participate in a mortgage insurance program pursuant to the National Housing Act (12 U.S.C. Section 1701 and following). (f) If the communication prescribed at the point (e) of this section is not issued at the time or prior to the execution of the loan agreement or if this section is not visible, this section does not apply to the loan agreement, but the validity and applicability of the loan agreement and the rights and obligations of the parties are not affected or affected. (e) In a loan agreement under point (b) of this section, the financial institution informs the debtor or debtor of the provisions of the subsections (b) and (c) of this section. The notice must be in a separate document signed by the debtor or debtor or incorporated into one or more of the documents that make up the loan agreement. The mention must be of a species in bold, capitalized, highlighted or otherwise indicated from the surrounding written material to be noticed. The notice of contract essentially states that “this written loan agreement constitutes the final agreement between the parties and should not be rebutted by evidence of 2 previous or subsequent oral agreements entered into by the parties. c) The rights and obligations of the parties to an agreement covered in point (b) of this section are exclusively determined by the written loan agreement and all previous oral agreements between the parties are replaced by the loan agreement and incorporated into the loan agreement.
b) A loan agreement in which the amount related to the loan contract is greater than $50,000 is not enforceable unless the agreement is written and signed by the related party or by the delegated representative of that party. “There are no unwritten oral agreements between the parties. (2) “loan contract”: one or more commitments, contracts, agreements, companies, security agreements, acts of trust or other documents or obligations, or a combination of those acts or documents by which a financial institution grants loans or borrows or contravenes the repayment of money, goods or other cause of value, or accepts or accepts, in order to extend other credits or make a financial adjustment. The term does not contain a commitment, change of sola, agreement, business, no document or obligation concerning: unsecured bonds – does not contain a section of guarantee, which increases the financial risk to the lender. In order to prevent the borrower from being late in payment, the lender must be particularly careful when selecting a borrower. Credit checks and personally know the borrower are two things that can greatly improve the transaction for the lender.