Truth in Lending: 9.3.3.3.1 General
Creditors making closed-end home-secured credit, excluding timeshares, bridge loans, reverse mortgages, and certain mortgages made under government programs or by nonprofit organizations,147 must make “a reasonable and good faith determination at or before consummation that the consumer will have a reasonable ability-to-repay the loan according to its terms.”148 That determination must be based on verified income, assets, and debts, including any simultaneous mortgages the creditor “knows or