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MDIA 3 Day Wait/APR Tolerance for Change

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It is clear according to MDIA that if the APR is out of tolerance an updated TIL must be redisclosed and the transaction is subject to the MDIA 3-day wait. However, if a change occurs, for example, in the loan amount, and the APR is NOT out of tolerance, according to Reg Z section 1026.17(f) must the TIL still be redisclosed? And if so, closing would not be subject to MDIA 3-day wait?

If the APR remains within tolerance there is no requirement to issue a revised TIL.

First published on 8/13/12

First published on 08/13/2012

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Filed under lending as: 

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