Which items are considered core components of the Truth in Lending Act (TILA)?

The core components of the Truth in Lending Act (TILA) focus on promoting informed use of consumer credit by requiring disclosures about its terms and costs. Answer B encompasses a comprehensive list of vital regulations and guidelines that stem from TILA.

The Mortgage Disclosure Improvement Act (MDIA), which is an amendment to TILA, mandates specific disclosure practices. Advertising standards are also grounded in TILA, ensuring that advertisements are not misleading. The Annual Percentage Rate (APR) must be clearly disclosed as it represents the total cost of borrowing over the loan's life, making it essential for consumer understanding. The Loan Estimate (LE) form is a key disclosure that outlines the terms and estimated closing costs of the loan, allowing borrowers to compare loan offers more effectively. The Home Ownership and Equity Protection Act (HOEPA) sets additional requirements for certain high-cost loans, ensuring further protection for consumers. The CHARM Booklet (Consumer Handbook on Adjustable Rate Mortgages) informs borrowers about adjustable-rate mortgages. Qualified Mortgages (QM) are defined by TILA to ensure that lenders meet certain criteria to offer loans that are deemed lower risk. Lastly, Loan Originator Compensation (LO Compensation) regulations are in place to prevent conflicts of interest in the compensation of loan originators.