AMOUNT FINANCED
It is credit’s actual amount that is made available through a lone to a borrower according to the Regulation Z disclosure requirements as stated in the Truth in Lending Act. To be specific, it is the principal loan amount minus the prepaid finance charges like adjusted interest, so-called points, loan origination fees, and other deposit balance that is required. It is actually used in calculating the percentage rate annually.
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Transaction in which a bank or financial institution reviews an individual’s credit report relative to a loan or credit card application. The ...
Caput
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