Definitions for "Truth in lending disclosure"
A written disclosure to the borrower from the lender, required by Federal Law, of the mortgage terms including the APR and other charges. The rightrs may include a recission period.
Required by federal law and discloses all lender required costs for the loan, the annual percentage rate, whether there is a prepayment penalty, etc. It also requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate and the number, amount and due dates of all payments necessary to repay the loan.
A disclosure required by the federal government setting forth the costs of the loan.