This is the combination of the Good Faith Estimate and the initial TIL.
What is the Loan Estimate
100
They finalized a rule with new, integrated disclosures called the TILA-RESPA rule.
What is the CFPB (Consumer Financial Protection Bureau)
100
***TRIPLE JEOPARDY***
TILA-RESPA rules do not apply to these.
What is HELOC's, Reverse Mortgages, & mortgages secured by a mobile home
100
The loan estimate must be delivered this many days before consummation.
What is 7 business days
100
This notice must be disclosed on the Adverse action notice.
What is the ECOA notice
200
The HUD-1 and Final TIL is now combined into this one disclosure.
What is the Closing Disclosure?
200
This regulation implements the Truth-in-lending Act
What is REG Z
200
This is calculated by determining the amount financed, the finance charge, and the payment schedule.
What is APR
200
This is determined by calculating the difference between the estimated charges & actual charges in the closing disclosure
What is good faith
200
An adverse action notice is required even if the customer does this.
What is withdrawal's request for loan?
300
The Loan Estimate must be delivered to the customer no later than the 3rd business day after this is submitted.
What is the application
300
This act directed the CFPB to integrated the mortgage loan disclosures under TILA-RESPA.
What is the Dodd-Frank Act
300
The TILA-RESPA rule applies to these open-end consumer loans
What is construction loans
300
These costs are paid by the consumer to the creditor & third-party providers of services the creditor requires to be obtained during the origination of the loan.
What is loan costs
300
When denying a customer on consumer 1-4 Family Residential Dwelling loan, you must follow these until the customer has been delivered the Adverse Action Notice.
What is TILA-RESPA disclosure rules
400
The closing disclosure must be delivered to the customer at or before this time.
What is 3 business days before consumation
400
This website gives you resources to help you comply with the TILA-RESPA rule.
This open-end loan is not covered by the TILA-RESPA rule
What is a HELOC
400
This table is used to show the consumer how the amount of cash needed at closing is calculated.
What is a cash to close table
400
The Adverse Action Notice should disclose the name, address, telephone number, and web address of these.
What is Consumer Reporting Agency/Credit Bureaus
500
You must provide this booklet within 3 days of application along with the Loan Estimate on purchases, refinance, home equity, or construction of a 1-4 family residential dwelling or mobile home.
What is Your Home Loan Toolkit
500
The TILA-RESPA rule became effective for consumer closed-end credit transaction secured by real property on this date.
What is October 3, 2015
500
Interest, Insurance Premiums the bank requires against customer default, finder's fees, and assumption fees are all included in these.
What is finance charges
500
***DOUBLE JEOPARDY***
When you have these you have an application.
What is 1. consumer's name
2. income
3. social security number
4. property address
5. estimated value of the property &
6. amount requested
500
More than 1 but no more than 4 of these should be disclosed on the Adverse Action Notice to assist the consumer with the reasons why credit was denied.