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Advertising Amortization Period

Answered by: 
Richard Insley | Guru Emeritus

Question: 
Is the amortization period (e.g. xx year amortization) a trigger term under Reg. Z 226.24? Is it considered the "period of repayment"?
Answer: 

If your loan has no interest-only period, then they're certainly the same. If there's an IO period before amortization begins, there's room for debate, but I'd hate to argue with an examiner that "amortization period" isn't the same thing as the period of repayment. Treat it as a trigger term and you'll be safe.

First published on BankersOnline.com 11/26/07

First published on 11/26/2007

Filed under: 
Operations
Filed under operations as: 
IT

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