Appendix K to Part 1026 — Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions
Loan Terms
- 1026 (Regulation Z)
Search for terms in the sections, interpretations, and appendices in the Bureau regulations we currently have online.
Loan Terms
rules in § 1026.18(s)(3)(ii) for disclosing payments on interest-only loans apply only if the loan
Identifying the loan.
If the loan is insured by the Federal Housing Administration, the creditor shall disclose that the loan
(b) Loan terms.
(1) Loan amount.
A statement of whether the creditor intends to service the loan or transfer the loan to another servicer
For a loan amount greater than or equal to $20,391 but less than $61,172: 5 percent of the total loan
For a loan amount greater than or equal to $20,350 but less than $61,050: 5 percent of the total loan
For a loan amount greater than or equal to $20,579 but less than $61,737: 5 percent of the total loan
For a loan amount greater than or equal to $21,032 but less than $63,095: 5 percent of the total loan
administrative, civil, or criminal findings by any government jurisdiction or, in the case of an individual loan
Advertising or communicating to the public that one can or will perform any loan origination services
Permanent loan modifications.
Loan term start date. See comment app.
Minimum number of loan options.
(8) Loan term.
(i) Under the subheading “Loan Estimate,” the amount disclosed under § 1026.37(h)(1)(ii), labeled
(i) Under the subheading “Loan Estimate,” the amount disclosed on the Loan Estimate under § 1026.37
Fully amortizing payment means a periodic payment of principal and interest that will fully repay the loan
An example of the application of § 1026.25(c)(2) to a loan originator organization is as follows
(vi) If applicable, a statement that the new payment will not be allocated to pay loan principal and
(vii) If applicable, a statement that the new payment will not be allocated to pay loan principal and
If the transaction is a type other than a conventional, FHA, or VA loan, § 1026.37(a)(11)(iv) requires
(1) Loan originator.