Joined: Jan 2007
We are processing our first MLA loan here. Is there a model disclosure to show the MAPR? Or how are we allowed to show MAPR to the customer? Our LOS will calculate but doesn't provide anything that says "This is the MAPR."
1. You don't have to comply with new regs until 10/3/16, but good for you for getting a head start 2. There is a model MAPR statement for written and oral disclosures (232.6(c)(3)) 3. You do not have to disclose the MAPR as a number