Under TILA, which statement about advertising trigger terms is correct?
Correct Answer
C) Trigger terms apply to all forms of advertising media
TILA Section 226.24 applies trigger term requirements to all forms of advertising media including print, radio, television, and internet advertisements without distinction.
Why This Is the Correct Answer
TILA Section 226.24 applies trigger term requirements to all forms of advertising media including print, radio, television, and internet advertisements without distinction.
More Federal Laws Questions
A mortgage broker's website states 'Qualified borrowers can get loans with down payments as low as 3%.' Which statement about TILA advertising requirements is correct?
A loan's APR increases from 4.25% on the Loan Estimate to 4.35% on the Closing Disclosure due to a rate lock expiration. What action is required?
A lender originates a mortgage that meets all QM requirements. Three years later, the borrower defaults and claims the lender violated the ATR rule. What legal protection does the lender have?
For a closed-end mortgage loan, when must the creditor provide the Closing Disclosure to the borrower?
Which of the following documents must be provided to trigger the start of the 3-day rescission period?
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