LeBraun is seeking a variable rate mortgage from High Street Financial. Under the Mortgage Reform and Anti-Predatory Lending Act of 2010, which modifies the Truth-in-Lending Act, High Street must disclose the maximum amount LeBraun could pay on the mortgage, with a warning that payments will vary based on interest rate changes.

Question

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The Mortgage Reform and Anti-Predatory Lending Act, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, requires lenders to disclose the maximum payment a borrower could be obligated to pay under a variable rate mortgage, including a clear warning that payments can fluctuate based on interest rate changes.

LeBraun Is Seeking a Variable Rate Mortgage from High Street