Content of disclosures for certain mortgage transactions (Loan Estimate).

CFR · 2024-01-01 · US · Title 12

For each transaction subject to § 1026.19(e), the creditor shall disclose the information in this section: (a) (2) (3) (4) (5) (6) (7) (ii) For transactions that do not involve a seller, the estimated value of the property identified in paragraph (a)(6), labeled “Prop. Value.” (8) (9) (i) (ii) (iii) (iv) (10) (i) The description of the loan product shall include one of the following terms: (A) (B) (C) (ii) The description of the loan product shall include the features that may change the periodic payment using the following terms, subject to paragraph (a)(10)(iii) of this section, as applicable: (A) (B) (C) (D) (E) (iii) The disclosure of a loan feature under paragraph (a)(10)(ii) of this section shall precede the disclosure of the loan product under paragraph (a)(10)(i) of this section. If a transaction has more than one of the loan features described in paragraph (a)(10)(ii) of this section, the creditor shall disclose only the first applicable feature in the order the features are listed in paragraph (a)(10)(ii) of this section. (iv) The disclosures required by paragraphs (a)(10)(i)(A) and (B), and (a)(10)(ii)(A) through (D) of this section must each be preceded by the duration of any introductory rate or payment period, and the first adjustment period, as applicable. (11) (i) (ii) (iii) (iv) (12) (13) (i) For transactions in which the interest rate is locked for a specific period of time, the creditor must provide the date and time (including the applicable time zone) whe

official document · source cfr-2024 · id 12:§ 1026.37