Mortgage Lending: 6.11.4.1 Structure of the Former Rule; Comparison to the OCC’s Current and Former Preemption Rules
The former OTS preemption rule regarding extensions of credit is available as companion material to this treatise. It begins with a statement that the OTS occupies the entire field of lending regulation for federal savings associations, so these institutions may extend credit as authorized under federal law without regard to state laws except as provided in the savings clause of the regulation.