ARM Disclosure - Table Not Required?

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Question:

I was told that we do not need the table on the ARM disclosure. Is this correct?

Answer:

That requirement has been gone for quite some time, probably at least 10 years. You now have an option to either disclose the historical table or the maximum interest rate and payment. See Reg Z 226.19(b)(2)(viii) and its Commentary.

First published on BankersOnline.com 11/24/08