Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-141. Loans on security of real estate

An association may make a loan or participate in making loans or buy or sell participations in loans secured by a mortgage which is a lien on real estate located in the regular lending area of the association, owned by the borrower in fee or in which he has a leasehold interest. The total of all liens held by an association and all prior liens against real estate shall not exceed the maximum percentages of fair market value set forth in the subsections of this article. The loan shall be evidenced by a bond, note or other evidence of indebtedness and shall be made upon the security, terms and conditions and in the amount set forth in this article for such loan. Mortgage loans and participations shall be primarily on one to four family residential properties.