Itemization of Amount Financed

Posted By: CFreasier

Itemization of Amount Financed - 03/13/01 05:29 AM

Is it necessary to obtain an Itemization of Amount Financed form for commercial loans?
Posted By: John Burnett

Re: Itemization of Amount Financed - 03/12/01 08:02 PM

If the loan passes the tests to qualify as a loan primarily for business purposes in Regulation Z, it's exempt from Regulation Z, and, therefore, from the itemization requirement.
Posted By: Al Miller

Re: Itemization of Amount Financed - 03/12/01 09:21 PM

Just in case someone has confused an itemization of amount financed with disbursement instructions, one should have the borrower authorize in writing any disbursement not to the general checking account.

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Al Miller, CRCM
Fremont Bank (CA)
(510) 790-5825
(510) 505-5211 FAX

Opinions expressed are my own and not necessarily shared by my employer.

Posted By: A D Virr

Re: Itemization of Amount Financed - 03/13/01 02:58 AM

You may want to check on state banking laws. New Hampshire has a statute requiring a disclosure which for all intents and purposes is an itemization of amount financed - although it is not in Reg Z format