Luật vay thế chấp liên bangCâu 79 / 400
On a rescindable transaction, when may the lender disburse loan funds?
a.Immediately at signing
b.Only after the three-business-day rescission period has expired without rescission
c.Within 24 hours of application
d.Only after 30 days
Giải thích
On a transaction subject to the right of rescission, the creditor generally may not disburse funds, and no work may be performed, until the three-business-day rescission period has expired and the lender is reasonably satisfied the consumer has not rescinded. Disbursing early would defeat the consumer's protected right to cancel.
Trích dẫn luật: Truth in Lending Act (Right of Rescission, Reg Z 1026.23)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A homeowner refinances the mortgage on her principal dwelling with a new lender. Under TILA, how long is her right to rescind the transaction after receiving the required disclosures and notice of the right to rescind?
- Which of the following transactions carries a TILA right of rescission?
- If a lender never provides the required material TILA disclosures or notice of the right to rescind on a rescindable refinance, the borrower's right of rescission may be extended for up to:
- A borrower sends her servicer a written notice claiming a payment was misapplied. Under Reg X error-resolution rules, within how many business days must the servicer acknowledge receipt of the notice of error?
- Under Reg X, before a servicer may charge a borrower for force-placed hazard insurance, it must generally send an initial notice and then wait at least how long before charging?
- A borrower becomes 45 days delinquent. Under Reg X's early intervention requirements, the servicer must generally:
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