Finance
Truth in Lending Act (TILA) disclosures required of Iowa mortgage lenders include:
AThe property's assessed value and tax history
BThe annual percentage rate (APR), total finance charge, and amount financed✓ Correct
CThe seller's net proceeds from the sale
DThe broker's commission split
Explanation
TILA requires lenders to disclose the annual percentage rate (APR), total finance charge, total amount financed, and total of all payments. These disclosures help borrowers compare loan costs on a standardized basis.
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