FORUM PROFILE

Coverage

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • November 9, 2011 at 6:10 pm EST #2425
    Anonymous
    Inactive

    I have two consumer loans that our loan operations is telling me are not covered by TIL. From the information I have I believe they should be:

    1) New consumer unsecured 5 year term loan for $10,000

    2) New consumer P & E term loan used to purchase a used car, but unsecured for $13,000 payable in 2 years

    I believe they are < $50,000 so should be covered?? If you have a chance to give me any insight on this I would appreciate it.

    November 9, 2011 at 8:53 pm EST #2819
    jholzknecht
    Keymaster

    There is nothing in your question that justifies either transaction being exempt from Regulation Z. Check with loan operations for any additional information that impact this answer.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.