Ind. Code § 37-5-4-8
Repayment ability; commercially reasonable practices to determine debt to income ratio
Indiana · Indiana Code Title 37 — Consumer Lending · Status: effective
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- Ind. Code § 37-5-4-8, Repayment ability; commercially reasonable practices to determine debt to income ratio, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1689730
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Full text
Sec. 8.
(a) A creditor may not make a high cost home loan without regard to repayment ability.
(b) If a creditor presents evidence that the creditor followed commercially reasonable practices in determining the borrower's debt to income ratio, there is a rebuttable presumption that the creditor made the high cost home loan with due regard to repayment ability. For purposes of this section, there is a rebuttable presumption that the borrower's statement of income provided to the creditor is true and complete.
(c) Commercially reasonable practices include the use of:
(1) the debt to income ratio:
(A) listed in 38 CFR 36.4337(c)(1); and
(B) defined in 38 CFR 36.4337(d); and
(2) the residual income guidelines established under:
(A) 38 CFR 36.4337(e); and
(B) United States Department of Veterans Affairs form 26-6393.