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2025 Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 22 - Mortgage Business
9-2231 Loans secured by mortgages on consumer's principal residence; negative amortization and balloon payments prohibited.

Universal Citation:
KS Stat § 9-2231 (2025)
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9-2231. Loans secured by mortgages on consumer's principal residence; negative amortization and balloon payments prohibited.
(a) A covered transaction shall not provide for the negative amortization of principal or a balloon payment when the loan-to-value ratio at the time such covered transaction was made exceeds 100% or when the annual percentage rate of the loan exceeds the code mortgage rate unless such covered transaction is open-end, incurred to acquire or construct the consumer's principal residence or a reverse mortgage.

(b) This section shall be a part of and supplemental to the Kansas mortgage business act.

History: L. 2024, ch. 6, ยง 11; January 1, 2025.

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