Title loan definition

Title loan means a loan of $25,000 or less to a borrower, who obtains or seeks to obtain the loan for personal, family, or household purposes, that is, or is to be, secured by an interest, other than a purchase money security interest, in the borrower’s motor vehicle, and that has an original term of not more than 6 months.

Title loan or "loan" means a loan of money

Title loan means a loan made to one or more natural persons by a licensee and secured by the title to a motor vehicle, which loan is not used for the purpose of purchasing the vehicle that is used as security and which loan has an originally stated repayment period of 180 days or less.

Examples of Title loan in a sentence

• Title loan businesses, check cashing businesses, payday loans or similar businesses.

• Title loan companies will pay a biennial license fee of up to $500, an initial investigation fee of $200, and an annual examination fee based on the amount of outstanding loans ($200 per examination is estimated by the Department of Banking and Finance).

• Title loan customers are required to have an unencumbered motor vehicle title to offer as security.

• Title loan lender” means a person engaged in the business of making title loans.

• ISO 9001:2008 Certification for Foreclosure Process of the Legal Department and the process of Safekeeping and Release of Title, loan documents and accountable forms for the Custodianship Division of the Fund and Asset Management Group.

More Definitions of Title loan

Title loan means a loan secured by an unencumbered state-issued certificate of title or certificate of ownership to personal property, with an original term of 30 days.

Title loan means a loan, other than a purchase money loan, that is secured by the title to a motor vehicle that is to be paid back in a single payment, and that is made by a lender in the business of making title loans. A title loan can also be any loan that is secured, substantially equivalent to a title loan, and designated as a title loan by rule or order of the commissioner. A title loan is a type of small loan. Revised 12/2022SPECIFIC SCHEDULE INSTRUCTIONS SCHEDULE 1:

Title loan means a Consumer Loan that was originated by the Borrower and any other Loan Party the repayment of which is secured by a perfected first or second priority security interest in a motor vehicle and, with respect to any such Consumer Loan that is secured by a second priority security interest in a motor vehicle, only in the event such security interest may be properly taken in accordance with the Requirements.

Title loan means a loan for a consumer purpose that is secured by a nonpurchase money security interest in titled personal property and that is scheduled to be repaid in either a single installment or in multiple install- ments that are not fully amortized. Title loans are regulated consumer loans and, except as otherwise provided in this part, all provisions of the Idaho credit code relating to regulated consumer loans apply to title loans and to persons engaged in the business of making title loans.

Title loan means a loan secured by an unencumbered state-issued certificate of title or certificate

Title loan means a loan secured by the title to a:

Title loan means a loan, other than a purchase money loan: (a)(1) Secured by the title to a motor vehicle;