by Dan Persfull:
Discount points payable by the borrower are not excluded from the APR calculation.
(a) Definition. The finance charge is the cost of consumer credit as a dollar amount. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit. It does not include any charge of a type payable in a comparable cash transaction.
Seller points, 1026.4(c)(5), are excluded.
by Richard Insley:
Hmmm....sounds like the kind of problem that would lead to a large reimbursement order.