What is a Truth In Lending statement? Required by federal law, the Truth In Lending statement (TIL) shows the total of payments over the term of a loan and discloses the APR.
Who are “Fannie Mae” and “Freddie Mac”? Fannie Mae, also known as the Federal National Mortgage Association (FNMA) and Freddie Mac, also known as the Federal Home Loan Mortgage Corporation (FHLMC), are government-sponsored enterprises (GSE) that buy mortgages from lending institutions in the secondary market; both operate as publicly traded corporations. Does California Bank and Trust offer mortgage loans for mobile homes? California Bank and Trust will finance double-wide homes that have been permanently affixed to a foundation, were built after June 1976, and meet other certain criteria. Check with a Loan Officer for further qualifying details. What is title insurance? Title insurance provides the lender and the buyer (if you purchase owners coverage) with coverage for losses resulting from specific title defects listed in the policy. In cases where land and property have changed hands over time, there is always the possibility an error has occurred.
Related Questions
- What is a Truth In Lending statement? Required by federal law, the Truth In Lending statement (TIL) shows the total of payments over the term of a loan and discloses the APR.
- Does Federal law exclude AmeriCorps living allowance payments from state pension plan contribution requirements?
- What is a Truth in Lending Statement (TIL)?
