Kansas has made updates to the Kansas Uniform Consumer Credit Code (UCCC). Among the updates is a new definition for “covered transaction” to include any loan with a loan-to-value ratio of 100% with the exception of any loan guaranteed by a federal government agency. See K.S.A. § 9-2201(l). The exception from the loan-to-value rule for government agencies is new to the UCCC. The global standard value field mapping that sets Subject To Kansas Uniform Consumer Credit Code (FI 23011) to “Yes” for first liens over 100% has been modified to set the field to “Yes” only for Conventional loans.
In addition, Kan. Stat. Ann. § 16-207(h) & (i) has been repealed. This citation was found on Cx4448 KS UCCC Addendum and has been removed. Cx4888 is still relevant pursuant to Kan. Stat. Ann. § 16a-1-109 Kan. Admin. Regs. § 75-6-1. The content of Cx4448 has not been changed other than the removal of the above referenced citation.
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