Fact Pattern 31-1B
Northeast Bank makes mortgage loans to consumers,including Mai,to buy homes.
-Refer to Fact Pattern 31-1B.Under federal law,disclosures with respect to one of Northeast's loans must be provided

Question

Fact Pattern 31-1B 
Northeast Bank makes mortgage loans to consumers,including Mai,to buy homes.
-Refer to Fact Pattern 31-1B.Under federal law,disclosures with respect to one of Northeast's loans must be provided

Quizplus · Accepted Answer

Under federal law, disclosures with respect to mortgage loans must be provided a certain number of days before the loan is finalized. This is known as the Truth in Lending Act (TILA) disclosure, which provides important information about the terms and costs of the loan to help consumers make informed decisions.