§ 1026.43 Minimum standards for transactions secured by a dwelling.
than the value of the dwelling, including any real property attached to the dwelling, that secures the loan
- 1026 (Regulation Z)
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than the value of the dwelling, including any real property attached to the dwelling, that secures the loan
(2) Any simultaneous loan that the creditor knows or has reason to know will be made, in accordance with
Assume a fixed rate loan with a term of 124 months (10 years, four months).
Example of payment calculation for a negative amortization loan if only minimum payments made.
requires disclosure of the amounts and time periods of all payments that will apply over the term of the loan
indicating the date at the end of that phrase or for a scheduled maximum interest rate under a step rate loan
To determine the maximum loan amount, assume that the initial interest rate increases to the maximum
Section 1026.43(b)(12) defines a simultaneous loan as another covered transaction or a home equity line
(ii) For a transaction in which the interest rate may vary during the term of the loan or credit plan
described in § 1026.37(f)(1), the amount of compensation paid by the creditor to a third-party loan
is consistent with the descriptions or prescribed labels, as applicable, used for such items on the Loan
For a private education loan intended to be used for the postsecondary educational expenses of a student
For example, in a fixed-rate interest-only loan, a scheduled increase in the payment amount from an interest-only
A creditor may terminate a loan or open-end credit agreement and accelerate the balance if there has
A fee, such as an origination or other loan closing cost, that is waived by the creditor on the condition
servicer ceases to qualify for an exemption pursuant to § 1026.41(e)(5)(i) with respect to a mortgage loan
transaction under § 1026.43(c)(2)(iii), a creditor must include consideration of any simultaneous loan
For a simultaneous loan that is a covered transaction, as that term is defined under § 1026.43(b
For loan programs intended for educational expenses of undergraduate students, the creditor may assume
calculation and that enough iterations will be performed to make virtually certain that the total annual loan
A charge determined by treating the loan balance as outstanding for a period of time after prepayment
A charge determined by treating the loan balance as outstanding for a period of time after prepayment
A charge determined by treating the loan balance as outstanding for a period of time after prepayment
A loan in an amount of $200,000 has a 30-year loan term.
A loan in an amount of $200,000 has a 30-year loan term.