§ 1026.38 Content of disclosures for certain mortgage transactions (Closing Disclosure).
(b) Loan terms.
- 1026 (Regulation Z)
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(b) Loan terms.
(4) Loan identification information.
A transfer for the amount of a scheduled payment due under a loan agreement for a covered loan.
Section 1026.37(a)(12) requires that the creditor disclose a loan identification number that may be used
Periodic changes in loan originator compensation and terms of transactions.
Section 1026.36(g)(1) requires the inclusion of loan originator names and NMLSR IDs on each loan document
be based on substantially equal monthly payments of principal and interest that will fully repay the loan
(10) A closed-end mortgage loan or open-end line of credit that is or will be made primarily for a business
(i) A universal loan identifier (ULI) for the covered loan or application that can be used to identify
(i) For a closed-end mortgage loan, other than a purchased loan, an assumption, or a reverse mortgage
Terms of loan agreement or account agreement.
(5) Subtotal of loan costs.
(b) Offering or negotiating terms of a loan.
(iv) The loan is repayable in two or more payments, all of which payments are substantially equal in
If the lender, mortgage broker who anticipates using table funding, or dealer in a first lien dealer loan
Balloon-payment mortgage with a three-year loan term; fixed interest rate.
institution may rely on the oral or written statement of an applicant regarding the proposed use of covered loan
(i) The initial loan amount disclosed on the GFE is the amount of the initial principal limit of the
Provide periodic training covering Federal and State law requirements that apply to the individual loan
(5) Loan amount means the principal amount the consumer will borrow as reflected in the promissory note
(a) Taking a loan application.
(ii) Must be unique within the annual loan/application register in which the covered loan or application
Loan sequence limitation.
Total loan amount. The term “total loan amount” is defined in § 1026.32(b)(4)(i).
To qualify under the safe harbor in § 1026.36(e)(2), the loan originator must have a good faith