What Does Defease Mean? Defeasance is a provision in a contract that voids a bond or loan on a balance sheet when the borrower sets aside cash or bonds sufficient enough to service the debt. What is defeasance of a loan? Defeasance is a provision in a contract that voids a bond or loan on
What Is Regulation Z Of The Consumer Protection Act? Regulation Z is a federal law that standardizes how lenders convey the cost of borrowing to consumers. It also restricts certain lending practices and protects consumers from misleading lending practices. What is the main purpose of Regulation Z? Regulation Z prohibits certain practices relating to payments
What Is Respa Regulation X? The Act requires lenders, mortgage brokers, or servicers of home loans to provide borrowers with pertinent and timely disclosures regarding the nature and costs of the real estate settlement process. The Act also prohibits specific practices, such as kickbacks, and places limitations upon the use of escrow accounts. What is
What Is An Example Of Predatory Lending? Examples of predatory lending could include high late fees, penalty interest rate or even seizure of loan collateral (like repossessing a car). Predatory lending practices can be found at any point in the loan-buying process, from false advertising to high-pressure sales tactics to an unaffordable free structure. What