Comment for 1026.2 - Definitions and Rules of Construction
Loan fees.
- 1026 (Regulation Z)
Search for terms in the sections, interpretations, and appendices in the Bureau regulations we currently have online.
Loan fees.
Loan term.
(b) Loan periods.
H-28(I) Mortgage Loan Transaction Loan Estimate - Modification to Loan Estimate for Transaction Not Involving
A consumer applies for a loan of $2,500 with a $40 loan fee.
The loan term is the period of time it takes to repay the loan amount in full.
obligation, one or more of the periodic payments may be applied solely to accrued interest and not to loan
(i) The loan originator must obtain loan options from a significant number of the creditors with which
If the creditor determines the principal loan amount under § 1026.18(b)(1) to be $2,500, it has
If the creditor determines the principal loan amount under § 1026.18(b)(1) to be $2,460, it has
Third, the creditor must apply the percentage cap on points and fees to the total loan amount.
amount over the term of the loan remaining as of the date the loan is recast.
(ii) An “individual loan originator” is a natural person who meets the definition of “loan originator
If the loan is guaranteed by the U.S.
(i) Under the subheading “Loan Estimate,” the “Total Closing Costs” disclosed on the Loan Estimate under
An example of the total cost of the loan calculated as the total of payments over the term of the loan
Use “This is the amount needed to bring the loan current” instead of “You must pay this amount to bring
transactions involving a large final payment of the new funds before the maturity of the pre-existing loan
Unlicensed individual loan originators.
A loan in an amount of $200,000 has a 30-year loan term.
(1) For a consumer credit transaction secured by a dwelling, a loan originator organization must include
If the creditor determines the principal loan amount under § 1026.18(b)(1) to be $2,540, it has
If the creditor determines the principal loan amount under § 1026.18(b)(1) to be $2,500, it has
(4) Total loan costs.
The following statement: “This form is a statement of final loan terms and closing costs.