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Truth in Lending: H-30(D)—Sample Clause for Homeownership Counselor Contact Information (§ 1026.41)
Editor’s Note330
Housing Counselor Information: If you would like counseling or assistance, you can contact the following:
- • U.S. Department of Housing and Urban Development (HUD): For a list of homeownership counselors or counseling organizations in your area, go to http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm or call 800-569-4287.
Truth in Lending: APPENDIX I Federal Enforcement Agencies
The following list indicates which federal agency enforces Regulation Z for particular classes of businesses. Any questions concerning compliance by a particular business should be directed to the appropriate enforcement agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101).
National banks and federal branches and federal agencies of foreign banks
Truth in Lending: APPENDIX J Annual Percentage Rate Computations for Closed-End Credit Transactions
(a) Introduction
(1) Section 1026.22(a) of Regulation Z provides that the annual percentage rate for other than open-end credit transactions shall be determined in accordance with either the actuarial method or the United States Rule method. This appendix contains an explanation of the actuarial method as well as equations, instructions and examples of how this method applies to single advance and multiple advance transactions.
Truth in Lending: APPENDIX K Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions
(a) Introduction. Creditors are required to disclose a series of total annual loan cost rates for each reverse mortgage transaction. This appendix contains the equations creditors must use in computing the total annual loan cost rate for various transactions, as well as instructions, explanations, and examples for various transactions.
Truth in Lending: APPENDIX L Assumed Loan Periods for Computations of Total Annual Loan Cost Rates
(a) Required tables. In calculating the total annual loan cost rates in accordance with appendix K of this part, creditors shall assume three loan periods, as determined by the following table.
(b) Loan periods.
(1) Loan Period 1 is a two-year loan period.
Truth in Lending: Appendix M1 to Part 1026—Repayment Disclosures
(a) Definitions.
(1) “Promotional terms” means terms of a cardholder’s account that will expire in a fixed period of time, as set forth by the card issuer.
(2) “Deferred interest or similar plan” means a plan where a consumer will not be obligated to pay interest that accrues on balances or transactions if those balances or transactions are paid in full prior to the expiration of a specified period of time.
Truth in Lending: Appendix M2 to Part 1026—Sample Calculations of Repayment Disclosures
The following is an example of how to calculate the minimum payment repayment estimate, the minimum payment total cost estimate, the estimated monthly payment for repayment in 36 months, the total cost estimate for repayment in 36 months, and the savings estimate for repayment in 36 months using the guidance in appendix M1 to this part where three annual percentage rates apply (where one of the rates is a promotional APR), the total outstanding balance is $1000, and the minimum payment formula is 2 percent of the outstanding balance or $20, whichever is greater.
Truth in Lending: Appendix O to Part 1026—Illustrative Written Source Documents for Higher-Priced Mortgage Loan Appraisal Rules
Editor’s Note336
A creditor acts with reasonable diligence under § 1026.35(c)(4)(vi)(A) if the creditor bases its determination on information contained in written source documents, such as:
Truth in Lending: Appendix P to Part 1026—[Reserved]
Editor’s Note337
[78 Fed. Reg. 6408 (Jan. 30, 2013)]
Truth in Lending: Appendix Q to Part 1026—Standards for Determining Monthly Debt and Income
[Removed.338]
[78 Fed. Reg. 6408 (Jan. 30, 2013); 78 Fed. Reg. 44,718 (July 24, 2013); 85 Fed. Reg. 86,308 (Dec. 29, 2020); 86 Fed. Reg. 22,844 (Apr. 30, 2021)]
Truth in Lending: H-28(A) Mortgage Loan Transaction Loan Estimate—Spanish Language Model Form
Editor’s Note316
Description: This is a blank model Loan Estimate that illustrates the application of the content requirements in § 1026.37, and is translated into the Spanish language as permitted by § 1026.37(o)(5)(ii). This form provides two variations of page one, four variations of page two, and four variations of page three, reflecting the variable content requirements in § 1026.37.
Truth in Lending: Listing of Regulation Z Provisions
Section
SUBPART A—GENERAL
Truth in Lending: 31(h) Corrections and unintentional violations.
Editor’s Note264
1. Notice requirements.265 Notice of a violation pursuant to § 1026.31(h)(1) or (2) should be in writing. The notice should make the consumer aware of the choices available under § 1026.31(h)(1)(iii) and (2)(iii). For notice to be adequate, the consumer should have at least 60 days in which to consider the available options and communicate a choice to the creditor or assignee.
Truth in Lending: Amendment History
[66 Fed. Reg. 65,620 (Dec. 20, 2001); 74 Fed. Reg. 23,305 (May 19, 2009); 76 Fed. Reg. 79,772 (Dec. 22, 2011); 78 Fed. Reg. 6856 (Jan. 31, 2013)]
Truth in Lending: 32(a)(3) Determination of annual percentage rate.
Editor’s Note308
1. In general.309 The guidance set forth in the commentary to § 1026.17(c)(1) and in § 1026.40 addresses calculation of the annual percentage rate disclosures for closed-end credit transactions and open-end credit plans, respectively. Section 1026.32(a)(3) requires a different calculation of the annual percentage rate solely to determine coverage under § 1026.32(a)(1)(i).
Truth in Lending: 32(b) Definitions.
Paragraph 32(b)(1).314
1. Known at or before consummation.315 Section 1026.32(b)(1) includes in points and fees for closed-end credit transactions those items listed in § 1026.32(b)(1)(i) through (vi) that are known at or before consummation. The following examples clarify how to determine whether a charge or fee is known at or before consummation.
Truth in Lending: 32(b)(4)(i) Closed-end credit.
Editor’s Note374
Editor’s Note375
1. Total loan amount; examples.376 Below are several examples showing how to calculate the total loan amount for closed-end mortgage loans, each using a $10,000 amount borrowed, a $300 appraisal fee, and $400 in prepaid finance charges. A $500 single premium for optional credit unemployment insurance is used in one example.