Comment for 1026.39 - Mortgage Transfer Disclosures
1026.39(e) provides that covered persons may, at their option, include additional information about the mortgage
- 1026 (Regulation Z)
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1026.39(e) provides that covered persons may, at their option, include additional information about the mortgage
Creditors may treat this subsidy as an “offset” to the monthly mortgage payment (that is, reduce the
Special rule regarding disclosure of the automatic termination of mortgage insurance.
(A) A mortgage transaction with a payment schedule that is adjusted to the seasonal or irregular income
bankruptcy case is dismissed or closed without the consumer having discharged personal liability for the mortgage
Model H-4(K) illustrates the no-guarantee-to-refinance statement required by § 1026.18(t) for a mortgage
person” means any person, as defined in § 1026.2(a)(22), that becomes the owner of an existing mortgage
in § 1026.43 as a “covered transaction” (defined in § 1026.43(b)(1)) and (2) a qualified mortgage
Fixed-rate mortgage.
Creditors generally must hold a loan in portfolio to maintain the transaction's status as a qualified mortgage
statement identifying the consumer's status as a debtor in bankruptcy or the discharged status of the mortgage
(B) Is a qualified mortgage under paragraph (e)(2), (e)(4), (e)(5), (e)(6), or (f) of this section; and
Appraisal fees mentioned in § 1026.4(b)(4) are excluded for real property or residential mortgage
Section 1026.37(k) requires the disclosure of an Nationwide Mortgage Licensing System and Registry (NMLSR
“Contact Information,” the following information for each creditor (under the subheading “Lender”), mortgage
Certain mortgage and credit insurance premiums.
the term “homeowner's insurance” means the amounts identified in § 1026.4(b)(8); and the term “mortgage
Assume a fixed-rate mortgage with an interest rate at consummation of 7 percent that is fixed for the
(2) A mortgage transaction secured by a consumer's interest in a timeshare plan, as defined in 11 U.S.C
on the consumer's liability to the net proceeds from the sale of the property subject to the reverse mortgage
Qualified mortgage criteria.
consumer's written application for a refinancing, the consumer has made no payments on the non-standard mortgage
For each transaction other than a mortgage transaction subject to § 1026.19(e) and (f), the creditor
A creditor, assignee, or servicer is exempt from the requirements of this section for mortgage loans
(1) The covered transaction, including the monthly payment for mortgage-related obligations, in accordance