Definitions for "Truth in lending"
Related Terms:
Truth-in-lending, Truth in lending act, Truth-in-lending law, Truth-in-lending act, Truth in lending disclosure, Til, Regulation z, Annual percentage rate, A.p.r, Disclosure statement, Annual percentage rate (apr, Apr, Comparison rate, Interest rate, Apr - annual percentage rate, Rate, Discount point, No-cost loan, Discount points, Usury, Point, Aapr, Lending rate, Discount loan, Origination fees, Points, Annual percentage rate - apr, Special allowance, Origination fee, Interest accrual rate, Loan discount, Usury laws, Ear, Loan origination fees, Loan origination fee, Effective interest rate, Loan origination fee or points, Interest, Interest rates, Origination points, Yield spread premium, Annual equivalent rate, Servicing fee, Discount, Annual interest rate, Loan fee, Early repayment charges, Arrangement fee, Base loan amount, Deferred establishment fee
Statutes which provide that accurate and understandable cost of credit information be provided to a credit customer.
A federal law that requires disclosure of total finance charges and the annual percentage rate for credit in order that borrowers may be able to shop for credit.
The Lender's requirement, usally within three days of loan application to disclose to you the ìannual percentage rateî. The APR reflects the cost of your mortgage loan as a yearly rate .This rate is generally higher than the note rate as it includes most loan costs.
A federal law which requires that a person applying for credit be given understandable information worth regard to interest rates.
Federal Regulation Z defines truth in lending.
A federal law requiring lenders to fully disclose in writing the terms and conditions of a mortgage, including the annual percentage rate and other charges. also called Regulation Z.
A federal law that requires lenders to fully disclosure, in writing, the terms, conditions, and costs of a loan, including the annual percentage rate and other charges.
a federal law requiring disclosure of the Annual Percentage Rate to homebuyers shortly after they apply for a loan.
A federal regulation that requires the lender to disclose all fees, terms and conditions of the loan proposal. Also,specifics of adjustable rate mortgages, i.e. adjustable rate term, adjustable rate cap, life cap.
A federally required disclosure to indicate to the borrower the APR and total costs over the life of the loan, prepayment penalties, late fees and charges, assumption, hazard insurance, and collateralization of the loan.
The name given to the federal statutes and regulations (Regulation Z) which are designed primarily to insure that prospective borrowers and purchasers on credit receive credit cost information before entering into a transaction.
The federal Truth in Lending Act is intended to assure a meaningful disclosure of credit terms to borrowers, especially on consumer loans. Lenders are required to inform borrowers precisely and explicitly of the total amount of the finance charge which they must pay and the annual percentage interest rate to the nearest .01%. Excluded transactions include loans for commercial or business purposes, including agricultural loans; loans to partnerships, corporation, cooperatives and organization; and loans greater than $25,000 except for owner-occupied, residential real estate mortgages where compliance is required regardless of the amount.
A required disclosure given to the prospective borrower by a lender itemizing all the terms and conditions and costs of a loan.
A Federal law that requires lenders and brokers to fully disclose, in writing, the terms and conditions of a loan, including the annual percentage rate and charges.
A federal law requiring disclosure of the Annual Percentage Rate to home buyers shortly after they apply for the loan. Also known as Regulation Z.
A federal law which requires a lender to fully disclose, in writing, all fees, terms, and conditions associated with the loan. This written disclosure must be given to the borower within 3 business days of the date they signed the loan application.s
A federal law requiring disclosure of the Annual Percentage Rate, finance charges, payment schedule, and other disclosures to home buyers immediately after they apply for a loan. The annual percentage rate must be sent to applicants within three business days of their application date.
Federal law requiring, among other things, a disclosure of interest rates charges and other information about a loan.
(Regulation Z): Part of the Consumer Credit Protection Act. Federal legislation designed to protect borrowers by requiring lenders to furnish information regarding the cost of the loan. The law requires interest to be expressed as the annual percentage rate (APR) to the nearest 1/8 of one percent. The APR must include charges such as loan fees, discount points, servicing fees, etc., as well as interest. The law applies to one to four residential family property only. Also applies to consumer loans.
A federal law requiring lenders to disclose the Annual Percentage Rate, finance charges, payment schedule, and other disclosures within three business days after the receipt of a loan application on certain types of loan transactions.
A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the APR and other charges.
The name given to the federal statues and regulations (Regulation Z) which are designed primarily to insure that prospective Borrowers of credit received credit and cost information before concluding a loan transaction.
See Regulation Z
federal law requiring lenders to disclose of terms and conditions of a loan
A federal law requiring full disclosure by lenders to borrowers of all terms, conditions and costs of a mortgage.
A federal law that provides the terms of a loan (including all the finance charges) be disclosed to the borrower before the loan is signed. It also contains a provision for the right of recision.
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