Reg Z trigger terms: The amount or percentage of any down payment (e.g., $1,000 down), The number of payments or period of repayment (e.g., 60 months financing), The amount of any payment (e.g., $400 per month), or. The amount of any finance charge.
Phrases or figures used in advertising that will "trigger" other Regulation Z disclosures. The following are trigger terms: the amount or percentage of any down payment, the payment period, the monthly payment, and the amount of the finance charge.
Final answer: The only term that is not a 'trigger term' according to Regulation Z is the APR. Trigger terms in Regulation Z are those that could potentially cause misunderstanding about the cost of credit, including downpayment amount, number of payments or repayment period, and finance charge amount.
Final answer: Under Regulation Z, 'B) Low monthly payments' and 'D) Only $10,000 down' are considered trigger items because they detail specific terms of the loan, which requires additional disclosures such as APR and terms of repayment.
Performance is not a valid trigger type in Automation Anywhere.
Final answer: A 'triggering term' in advertising refers to specific financial terms which necessitate additional disclosures under specific laws. All examples provided, except 'mortgage is assumable', qualify as 'triggering terms' as they provide specific financial figures requiring further information.
For example, if a lender uses one or more of the triggering terms listed above in an advertisement for a mortgage, the ad must also include: The amount or percentage of the down payment. The full terms of the repayment over the loan's term, including any required balloon payment.
Whenever the creditor changes the consumer's billing cycle, it must give a change-in-terms notice if the change either affects any of the terms required to be disclosed under § 1026.6(a) or increases the minimum payment, unless an exception under § 1026.9(c)(1)(ii) applies; for example, the creditor must give advance ...
Creditors with assets of less than $2.336 billion (including assets of certain affiliates) on December 31, 2021, are exempt from the requirement to establish escrow accounts for higher-priced mortgage loans in 2022 if other provisions of Regulation Z are also met.
Share. Definition: used in advertising, include the following – the amount or percentage of down payment, number of payments, period (term) of repayment, amount of any payment, and the amount of any finance charges.
Regulation Z prohibits practices in which mortgage brokers and loan originators may receive compensation for referrals or "steering." Buyers typically connect with a real estate agent, who refers them to a specific mortgage lender. The agent receives no compensation for this referral.
In mortgage advertising, triggering terms influence consumer decisions by indicating specific financing details. The term 'Assumable Mortgage' does not provide specific conditions like the others do. Hence, it is not considered a triggering term compared to the others in the list.
Finance charge amount: Mentioning the finance charge amount includes stating the dollar amount of the finance charge or any portion of it. However, disclosing the APR or stating there is no particular charge for credit (such as no closing costs) is not a triggering term.
Triggering events include job loss, retirement, or death, and are typical for many types of contracts. These triggers help to prevent, or ensure, that in the case of a catastrophic change, the terms of an original contract may also change.
The trigger is mostly used for maintaining the integrity of the information on the database. For example, when a new record (representing a new worker) is added to the employees table, new records should also be created in the tables of the taxes, vacations and salaries.
A trigger is a stimulus that elicits a reaction. In the context of mental illness, "trigger" is often used to mean something that brings on or worsens symptoms. This often happens to people with a history of trauma or who are recovering from mental illness, self-harm, addiction, and/or eating disorders.
A trigger exception (also known as a "blocking trigger") is a kind of trigger that can be used to block another trigger's ability to fire under certain conditions. For example, if a tag has a trigger to fire on all pages and a trigger exception that is set to "Page URL equals thankyou.
DDL statements are not allowed in the body of a trigger. Also, no transaction control statements are allowed in a trigger. ROLLBACK , COMMIT , and SAVEPOINT cannot be used. For system triggers, { CREATE / ALTER / DROP } TABLE statements and ALTER ...
A trigger is a person, place, thing, or situation that elicits an intense or unexpected emotional response or causes an individual to relive a past trauma. Any sensory stimulus can be a potential trigger. Triggers are unique from threats.