Reg Z HELOCs (Open-End Credit)
Course Number: ABA
Course Code: ABA
Explains the Regulation Z requirements for home equity lines of credit, including disclosures, changes in terms, and periodic statements.?
Updated: February 2019
Re-versioned: April 2016
What You’ll Learn
After completing this course, students will be able to:
Define a home equity line of credit
-Explain what disclosures are required and when they must be provided
-Identify the circumstances when lenders are allowed to change the terms of a home equity line of credit
-Understand the requirements for periodic statements
Audience: Any branch staff that discusses home equity options with consumers or takes consumer applications for home equity products.
Prerequisites: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.