Ask Question
BusinessBusiness
22 August, 04:01

Which laws or regulations require mortgage lenders to disclose financing costs and annual percentage rate to a borrower before funding a loan?

+4
Answers (1)
  1. 22 August, 06:21
    0
    The Truth in Lending Act (TILA)

    Explanation:

    TILA was passed in 1968 in an attempt to protect loan consumers from unfair practices carried out by lenders. TILA requires lenders to disclose the credit terms in a simple and understandable manner so that potential consumers can compare credit terms offered by different lenders. The information disclosed must include the loan's APR, principal, finance charges, payment schedule and monthly payments.

    TILA applies to most types of consumer credit, including car loans, home mortgages, credit card, home equity loans, etc.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which laws or regulations require mortgage lenders to disclose financing costs and annual percentage rate to a borrower before funding a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The price elasticity of demand tells us about a. The sensitivity of price to quantity b. The sensitivity of quantity to price c. The sensitivity of income to price d. The sensitivity of income to quantity
Answers (1)
Presented below is the ledger for Swifty Corporation. Cash No. 101 10/1 5,700 10/4 430 10/10 660 10/12 1,260 10/10 3,600 10/15 250 10/20 450 10/30 470 10/25 2,400 10/31 500 Accounts Receivable No. 112 10/6 900 10/20 450 10/20 500 Supplies No.
Answers (1)
Identify which of the following statements is true. A. If both the current and accumulated E&P have deficit balances, a corporate distribution cannot be characterized as a dividend. B.
Answers (1)
Is a humorous presentation, usually delivered in conjunction with a mealtime meeting or banquet?
Answers (1)
Kennedy Enterprises has budgeted sales for the months of September and October at $ 110 comma 000 and $ 170 comma 000 , respectively. Monthly sales are 60 % credit and 40 % cash.
Answers (1)
New Questions in Business
Providing training for unemployed individuals is primarily intended to reduce
Answers (1)
You are hired by the Council of Economic Advisors (CEA) as an economic consultant. The chairperson of the CEA tells you that she believes the current unemployment rate is too high. The unemployment rate can be reduced if aggregate output increases.
Answers (1)
An analytical procedure example is the comparison of: Multiple Choice a. Financial ratios of the current year to previous years. b. Recorded amounts of major disbursements with appropriate invoices. c.
Answers (1)
Mary sue owns 1,000 shares of qrs moving company. qrs pays a yearly dividend of $1.00 per share. what is the total annual dividend that mary sue will receive?
Answers (1)
To StaySafe around electricity, Ted needs to: A. Follow his gut instinct B. Follow procedures established by his co-workers C. Make sure electrical hazards are resolved immediately D. Practice electrical safety only when his employer is watching
Answers (1)
Home » Business » Which laws or regulations require mortgage lenders to disclose financing costs and annual percentage rate to a borrower before funding a loan?
Sign Up Forgot Password?