Valid when made (also sometimes valid-when-made) is a United States legal doctrine which holds that the terms of a loan, if legally valid at the time of its creation, remain valid after the loan is sold or assigned to a third-party. Historically, the doctrine has often been applied to loans made by national banks and then transferred to secondary lenders. Under this doctrine, debt buyers may purchase loans from national banks and collect interest on them at the same rate as the original lender, without being prevented by their state's usury laws.
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