Finance
Regulation Z under the Truth in Lending Act (TILA) requires lenders to disclose which key information to mortgage borrowers?
AThe property's appraised value and comparable sales
BThe annual percentage rate (APR), finance charge, total payments, and payment schedule✓ Correct
CThe broker's commission and referral fees
DThe property's homeowners association assessments
Explanation
Regulation Z (implementing TILA) requires lenders to clearly disclose the annual percentage rate (APR), total finance charges, amount financed, total of all payments, and the payment schedule before the loan is consummated.
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