The consumer disclosure must compare a loan guaranteed under chapter 37
What the document says“``(ii) in connection with a loan guaranteed or insured under chapter 37 of title 38, United States Code, assuming prevailing interest rates; and''.”
The section amends section 203(f)(2)(A) of the National Housing Act so that the disclosure comparing loan costs also covers a loan guaranteed or insured under chapter 37 of title 38 of the United States Code, assuming prevailing interest rates.
What the document actually says“``(ii) in connection with a loan guaranteed or insured under chapter 37 of title 38, United States Code, assuming prevailing interest rates; and''.”
The notice must also cover a loan backed by the veterans agency. It uses the rates of the day.
The notice shows a borrower what different loans would cost. Before this it left out veterans loans. Now it must include them.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.