§412:2-108  Alternative mortgage loans
rules.  The commissioner may by rule permit financial institutions to make
loans secured by mortgages that do not meet the loan-to-value ratio, payment
terms, compounding of interest, or other requirements contained under this
chapter, chapter 478 or other law of this State, including but not limited to,
alternative mortgage loans, such as "reverse annuity" and
"graduated payment" mortgage loans.  Such rules may specify the
borrowers eligible for such alternative mortgage loans, and the limitations,
restrictions, and other requirements the commissioner shall deem appropriate.
[L 1993, c 350, pt of §1]