MortgagetownVA22189 J amesandClaraBorrower 123YourStreet HometownVA22189 18165500 18931343 Fixed RateInterestOnlyBalloon 101405 665 10Year 190000 15000 5000 A dministrative Fee Doc P ID: 849423
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1 456MainStreet Mortgagetown,VA22189 J ame
456MainStreet Mortgagetown,VA22189 J amesandClaraBorrower 123YourStreet Hometown,VA22189 $181,655.00 $189,313.43 Fixed RateInterest-OnlyBalloon 10/14/05 6.65% 10Year 1,900.00 150.00 50.00 A dministrative Fee Doc Prep Fee C ourier 625.00 150.00 75.00 275.00 125.00 40.00 675.00 Title Binder 50.0 0 50.00 100.00 250.00 275.00 CountyTax 8 34.4914 275.93 720.00 2months 120.00 60.00 145.83 1,312.50 175.00 7,658.43 0.00 1,049.11 145.83 60.00 1,254.95 Flood Certification 40.00 1004 F SMortgageCompany 225.00 9months 26457 James and Clara Borrower 123YourStreet Hometown,VA22189 6.8 8 129,059.3 6 186,147.5 0 315,206.8 6 X 119 1 1,049.11 190,362.54 5.00 X 3 ,900.00 2,330.00 1 0years 1 0years X t hepropertylocatedat123YourSt.,Hometown,VA22189 X X 10/14/05 Monthlybeginning12/01/05andending10/01/15 11/01/15 X 456 Main Street Mortgagetown, VA 22189 J ames and Clara Borrower 123 Your Street Hometown, VA 22189 F S Mortgage Company 1,900.00 150.00 A dministrati
2 ve Fee Doc Prep Fee C ourier 50.00 6
ve Fee Doc Prep Fee C ourier 50.00 625.00 150.00 75.00 8 34.4914 275.93 720.00 1004 2 months 9 months 60.00 145.83 120.00 1,312.50 0.00 $181,655.00 $189,313.43 Fixed Rate Interest-Only Balloon 10/14/05 6.65% 10 Year 275.00 225.00 125.00 40.00 675.00 Title Binder 50.0 0 50.00 100.00 250.00 County Tax 275.00 175.00 Flood Certification 40.00 7,658.43 1,049.11 145.83 60.00 1,254.95 10/14/05 26457 James and Clara Borrower 123 Your Street Hometown, VA 22189 6.8 8 129,059.3 6 186,147.5 0 315,206.8 6 X 119 1,049.11 Monthly beginning 12/01/05 and ending 10/01/15 1 190,362.54 11/01/15 3 ,900.00 1 0 years 2,330.00 1 0 years X t he property located at 123 Your St., Hometown, VA 22189 5.00 X X X X Sample Current Mortgage Disclosure Forms The current mortgage disclosure forms tested in the study consisted of the Truth-in-Lending Act (“TILA”) statement required for closed-end, fi
3 xed-rate residential mortgages under the
xed-rate residential mortgages under the Truth in Lending Act, and the Good Faith Estimate of Settlement Costs (“GFE”) required under the Real Estate Settlement Procedures Act (“RESPA”). The GFE used in the tests was an enhanced version that included information beyond that required by the RESPA regulations, such as the amount of money borrowed, the interest rate, the total monthly payment amount, an itemization of the monthly payment, the cash due at closing, and the total settlement charges. Many lenders currently use some variation of an enhanced GFE that goes beyond the regulatory requirements. The GFE used in the tests followed this practice so that it more closely reflected the information that many consumers actually receive. The use of an enhanced GFE implies that the test results understate problems that consumers may have with a GFE that merely complies with the regulations. A sample of the current disclosure forms teste