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#1355992 - 03/11/10 06:32 PM Annual payment on GFE
Here4Life Offline
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Joined: Feb 2010
Posts: 116
We have a loan that is going to be set up for annual payments. I know on the GFE these payments have to be converted to monthly, but what about the ETIL is it OK to show the payments as annual?

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RESPA
#1356072 - 03/11/10 07:12 PM Re: Annual payment on GFE Here4Life
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
Your eTIL is a completely different disclosure and is how you accurately describe repayment and APR. Most definitely disclose it as it really is.
_________________________
My opinion only. Not legal advice.

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#1356285 - 03/11/10 09:31 PM Re: Annual payment on GFE RR Joker
Here4Life Offline
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Joined: Feb 2010
Posts: 116
That's what I thought, just wanted to double check. Thanks!

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