I think I had a "...well, duh" moment, but please humor and confirm with me.
The changes to the TIL disclosures have, IMO, made it impossible to use the TIL to check APRs using APR WIN, right? Prior to the changes, the TIL itemized the initial payment and the fully indexed payment - upon which the APR was calculated.
Now the TIL lists the initial payment and the worst case scenario payment.
So, in order to properly test the APR on an ARM, it is now necessary to take the initial payment and then also calculate the fully indexed payment for the remainder of the loan.
Is that correct?
Kentucky basketball isn't a matter of life and death, it's much more important than that.