Answer:
In addition to the disclosures required on any mortgage loan the following disclosures must be provided on an ARM:
• The booklet titled Consumer Handbook on Adjustable Rate Mortgage (CHARM booklet); and
• A loan program disclosure for each variable rate program in which the consumer expresses an interest.
Both disclosures must be provided by the earlier of:
• The time an application form is provided; or
• Before the consumer pays a non-refundable fee.
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