Comment for 1026.43 - Minimum Standards for Transactions Secured by a Dwelling
is a simultaneous loan that the creditor knows or has reason to know about must be considered as a mortgage
- 1026 (Regulation Z)
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is a simultaneous loan that the creditor knows or has reason to know about must be considered as a mortgage
State law with respect to such a transaction depends on whether: (1) The transaction was an alternative mortgage
the loan-volume test described in § 1003.2(g)(1)(v)(A) if it originated fewer than 25 closed-end mortgage
Facts: A, a mortgage lender is affiliated with B, a title company, and C, an escrow company and offers
the reduction is reasonably consistent with established industry norms and practices for secondary mortgage
Assume a loan with a 30-year term that does not require mortgage insurance and requires interest only
For example, if a closed-end mortgage loan with a 30-year term has an adjustable-rate product with an
A lender who makes a mortgage loan or a servicer shall be considered to have complied with the provisions
subject to § 1026.39(d)(5), no person becoming a creditor with respect to an existing residential mortgage
The creditor, assignee, or servicer of an adjustable-rate mortgage shall provide consumers with disclosures
If the reverse mortgage has neither a specified period for disbursements nor a specified repayment date
borrower's financial information in anticipation of a credit decision relating to a federally related mortgage
Assume a transaction that is a first-lien, purchase-money home mortgage with a fixed interest rate and
Assume a transaction that is a first-lien, purchase-money home mortgage with a fixed interest rate and
The GSE pools the refinancing in a mortgage-backed security guaranteed by the GSE, thus the GSE holds
Before extending a higher-priced mortgage loan subject to the appraisal requirements of § 1026.35
Specifically, if the compensation is determined with reference to the profits of the person from mortgage-related
For example, assume a parent company has two mortgage lending subsidiaries.
requires in connection with the transaction that would be provided by persons other than the creditor or mortgage
fee, title - closing protection letter fee, title - lender's title insurance policy, and an upfront mortgage
If two or more consumers are joint obligors with primary liability on a mortgage loan subject to §
For an adjustable-rate mortgage, creditors should assume the interest rate increases after consummation
based on inaccurate information provided by the creditor; therefore, the loan was never a qualified mortgage
covered transaction using the payment calculation rules in § 1026.43(f)(1)(iv)(A), together with all mortgage-related
The first column also reflects the amortizing payments, and mortgage insurance and escrow payments, if