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#1888737 - 01/21/14 08:13 PM total loan amount calculation
questioning Offline
100 Club
Joined: May 2002
Posts: 194
In the following citation, is the amount financed the same as the amount financed disclosed on the TIL?

Total loan amount. (i) Closed-end credit. The total loan amount for a closed-end credit transaction is calculated by taking the amount financed, as determined according to 1026.18(b), and deducting any cost listed in 1026.32(b)(1)(iii), (iv), or (vi) that is both included as points and fees under 1026.32(b)(1) and financed by the creditor.

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#1888743 - 01/21/14 08:18 PM Re: total loan amount calculation questioning
dblack Offline
Gold Star
Joined: Feb 2008
Posts: 263
AL
Yes.

"taking the amount financed, as determined according to 1026.18(b)"
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