When you refinance a loan, there are several different regulations that can come into play, depending on details of the specific transaction. One of those regulations is Truth in Lending. §1026.20, which deals with closed-end loans, states that …A refinancing occurs when an existing obligation…is satisfied and replaced by a new obligation undertaken by the same consumer…. While there are some exclusions, knowing what is and what is not a refinancing is key because …A refinancing is a new transaction requiring new disclosures to the consumer.
Kevin explains more in the video.
Published
2025/08/15