Description
This course covers the Regulation Z closed-end credit provisions that apply to mortgage transactions, including adjustable-rate mortgages (ARMs), higher-priced mortgage loans (HPMLs), and high-cost mortgage (Section 32) loans and lines of credit. Learn the specific right of rescission established by the regulation for mortgage credit transactions, as well as important provisions related to many other aspects of these transactions such as: mortgage loan advertising, loan originator compensation, pre-closing homeownership counseling, valuation independence, restrictions on prepayment penalties and prohibition against mandatory arbitration. Requirements for escrow account cancellation and servicing of closed-end mortgage credit are also explained.
