Description
The Regulation Z Loan Options Form provides an effective and easy way to documentation of the loan options offered to ensure your loan originators are not directing or steering a consumer to consummate a transaction based on the fact that the originator will receive greater compensation from the creditor in that transaction than in other transactions the originator offered. Presenting various loan options to applicants, as outlined in Regulation Z 12 CFR 1026.36(e), ensures a creditor complies with the prohibition on steering rules in this section. Documenting the loan options presented is a crucial part of managing compliance with these rules.
