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G-14(A) Early Disclosure Model Form (Home-equity Plans) [Loan Applicant’s Name] [Loan Applicant’s Address] [Date] [Name of Creditor] [Loan Originator’s Unique Identifier] [Statement that the consumer has applied for a home-equity line of credit] Borrowing Guidelines Credit Limit [Disclosure of credit limit] First Transaction [Description of any minimum draw requirements at account opening] Minimum Transaction [Description of any minimum draw requirements after account opening] Minimum Balance [Description of any minimum outstanding balance requirement] Limits on Number of Credit Transactions [Description of any limitations on the number of extensions of credit] Limits on Amount of Credit Borrowed [Description of any limitations on the amount of credit that may be obtained during any time period] Annual Percentage Rate Annual Percentage Rate (APR) [APR(s) applicable to the payment plans disclosed in the table, including introductory APR information] [For variable APRs, the following (1) description that the APR varies, (2) how the APR is determined, (3) the frequency of changes in the APR, (4) description of any limitations on changes in the APR (except for minimum and maximum APRs) or a statement that no annual limitation exists, as applicable, and (5) description of any rules relating to changes in the index value and the APR, including preferred rate provisions and rate carryover provisions, if any] Maximum APR [Maximum APR(s) applicable to the payment plans disclosed in the table] Minimum APR [Minimum APR(s) applicable to the payment plans disclosed in the table] Historical Changes to Prime Rate [Description of the lowest and highest value of the index in the past 15 years] Fees Refundability of Fees [Description of a consumer’s rights to refund of fees] Total Account Opening Fees [Description of total one-time account opening fees] [Annual Fee/Monthly Fees] [Description of fees imposed by the creditor for availability of the plan] Early Termination Fee [Description of fees imposed by the creditor for early termination of the plan by the consumer] Required [insert name of required insurance, or debt cancellation or suspension coverage] [Description of cost of insurance, or debt cancellation or suspension plan] Other Fees [Statements about other fees] [Description of itemized one-time account opening fees] [Cross reference to additional information] Borrowing and Repayment Terms Length of Credit Plan [Disclosures of length of plan, length of draw period, and length of any repayment period] [If there is no repayment period on the plan, a statement that after the draw period ends, the consumer must repay the remaining balance in full] [A statement that the consumer can borrow money during the draw period] [If a repayment period is provided, a statement that the consumer cannot borrow money during the repayment period] [A statement indicating whether minimum payments are due in the draw period and any repayment period] Balloon Payment [Statement that paying only the minimum periodic payments may not repay any of the principal or may repay less than the outstanding balance by the end of the plan] [Statement that a balloon payment may result or will result, as applicable] Payment Plans [Statement indicating that the table shows how the creditor determines minimum required payments for two plans offered by the creditor] [Statement that other payment plans are available] [Statement that consumer should ask the creditor for additional details about these other payment plans] Plan A [Explanation of how the minimum periodic payment will be determined and the timing of the payments for this plan] [Statement about balloon payment for this plan] [Statement about payment limitations] [Statement about negative amortization] Plan B [Explanation of how the minimum periodic payment will be determined and the timing of the payments for this plan] [Statement about balloon payment for this plan] [Statement about payment limitations] [Statement about negative amortization] Plan Comparison: Sample Payments on an $(credit limit) Balance [Statement that the sample payments show the first periodic payments if the consumer borrows the maximum credit available when the account is opened and does not borrow any more money] [Statement that the sample payments are not the consumer’s actual payments] [Statement that the actual payments each period will depend on the amount that the consumer has borrowed and the interest rate that period] Sample Payments under Plan A Borrowing Period (Years __ to __) First Payment [Balance at Start of Repayment Period] [Repayment Period (Years __ to __) First Payment] ____% (current) $____ [$____] [$____] ____% (max.) $____ [$____] [$____] Borrowing Period (Years __ to __) First Payment [Balance at Start of Repayment Period] [Repayment Period (Years __ to __) First Payment] ____% (current) $____ [$____] [$____] ____% (max.) $____ [$____] [$____] APR Sample Payments under Plan B APR Plan A vs. Plan B [Identification of which plan results in the least amount of interest, and which plan results in the most amount of interest] [Statements about balloon payments] [Fixed Interest Rate Option] [Statements about fixed-rate and -term payment plans] [Statement that consumer should ask creditor for details about fixed-rate and -term payment plans] Risks You Could Lose Your Home [Statements about security interest in the consumer’s dwelling and risk to home] You May Not Be Able to Borrow From Your Line of Credit [Statements about possible actions by creditor on HELOC plan] The Interest You Pay May Not Be TaxDeductible [Statements about tax implications] [Statement that the consumer has no obligation to accept the terms disclosed in the table] [Identification of any disclosed term that is subject to change prior to opening the plan, or a statement that all terms disclosed could change before the plan is opened, as applicable] [Statement that the consumer may be entitled to a refund of all fees paid if the consumer decides not to open the plan] [Cross reference to the “Fees” section in the table] [Statement about asking questions] [Statement about Board’s website] [If the creditor has a provision for the consumer’s signature, a statement that a signature by the consumer only confirms receipt of the disclosure statement] [ Borrower’s Signature Date] G-14(B) Early Disclosure Model Form (Home-equity Plans) [Date] [Name of Creditor] [Loan Originator’s Unique Identifier] [Loan Applicant’s Name] [Loan Applicant’s Address] [Statement that the consumer has applied for a home-equity line of credit] Borrowing Guidelines Credit Limit [Disclosure of credit limit] First Transaction [Description of any minimum draw requirements at account opening] Minimum Transaction [Description of any minimum draw requirements after account opening] Minimum Balance [Description of any minimum outstanding balance requirement] Limits on Number of Credit Transactions [Description of any limitations on the number of extensions of credit] Limits on Amount of Credit Borrowed [Description of any limitations on the amount of credit that may be obtained during any time period] Annual Percentage Rate Annual Percentage Rate (APR) [APR(s) applicable to the payment plans disclosed in the table, including introductory APR information] [For variable APRs, the following (1) description that the APR varies, (2) how the APR is determined, (3) the frequency of changes in the APR, (4) description of any limitations on changes in the APR (except for minimum and maximum APRs) or a statement that no annual limitation exists, as applicable, and (5) description of any rules relating to changes in the index value and the APR, including preferred rate provisions and rate carryover provisions, if any] Maximum APR [Maximum APR(s) applicable to the payment plans disclosed in the table] Minimum APR [Minimum APR(s) applicable to the payment plans disclosed in the table] Historical Changes to Prime Rate [Description of the lowest and highest value of the index in the past 15 years] Fees Refundability of Fees [Description of a consumer’s rights to refund of fees] Total Account Opening Fees [Description of total one-time account opening fees] [Annual Fee/Monthly Fees] [Description of fees imposed by the creditor for availability of the plan] Early Termination Fee [Description of fees imposed by the creditor for early termination of the plan by the consumer] Required [insert name of required insurance, or debt cancellation or suspension coverage] [Description of cost of insurance, or debt cancellation or suspension plan] Other Fees [Statements about other fees] [Description of itemized one-time account opening fees] [Cross reference to additional information] Borrowing and Repayment Terms Length of Credit Plan [Disclosures of length of plan, length of draw period, and length of any repayment period] [If there is no repayment period on the plan, a statement that after the draw period ends, the consumer must repay the remaining balance in full] [A statement that the consumer can borrow money during the draw period] [If a repayment period is provided, a statement that the consumer cannot borrow money during the repayment period] [A statement indicating whether minimum payments are due in the draw period and any repayment period] Balloon Payment [Statement that paying only the minimum periodic payments may not repay any of the principal or may repay less than the outstanding balance by the end of the plan] [Statement that a balloon payment may result or will result, as applicable] How Your Minimum Monthly Payments Are Calculated [Explanation of how the minimum periodic payment will be determined and the timing of the payments for this plan] [Statement about payment limitations] [Statement about negative amortization] Sample Payments on an $(credit limit) Balance [Statement that the sample payments show the first periodic payments if the consumer borrows the maximum credit available when the account is opened and does not borrow any more money] [Statements about balloon payment] [Statement that the sample payments are not the consumer’s actual payments] [Statement that the actual payments each period will depend on the amount that the consumer has borrowed and the interest rate that period] Sample Payments Borrowing Period (Years __ to __) First Payment [Balance at Start of Repayment Period] [Repayment Period (Years __ to __) First Payment] ____% (current) $____ [$____] [$____] ____% (max.) $____ [$____] [$____] APR [Fixed Interest Rate Option] [Statements about fixed-rate and -term payment plans] [Statement that consumer should ask creditor for details about fixed-rate and -term payment plans] Risks You Could Lose Your Home [Statements about security interest in the consumer’s dwelling and risk to home] You May Not Be Able to Borrow From Your Line of Credit [Statements about possible actions by creditor on HELOC plan] The Interest You Pay May Not Be TaxDeductible [Statements about tax implications] [Statement that the consumer has no obligation to accept the terms disclosed in the table] [Identification of any disclosed term that is subject to change prior to opening the plan, or a statement that all terms disclosed could change before the plan is opened, as applicable] [Statement that the consumer may be entitled to a refund of all fees paid if the consumer decides not to open the plan] [Cross reference to the “Fees” section in the table] [Statement about asking questions] [Statement about Board’s website] [If the creditor has a provision for the consumer’s signature, a statement that a signature by the consumer only confirms receipt of the disclosure statement] [ Borrower’s Signature Date] G-14(C) Early Disclosure Sample (Home-equity Plans) December 20, 2011 XXX Bank Loan Officer: 12345 1234 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 You have applied for a home equity line of credit. Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 4.00% introductory APR for the first six months. After that, your APR will be 5.25%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. Fees Refundability of Fees We will refund all fees you paid if you tell us that you do not want to open an account: for any reason within three business days after you receive this statement; or any time before your account is opened if any of these terms (other than the APR) changes. Total Account Opening Fees Up to $1,740, for the following: Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Other Fees Other fees will apply, such as penalty fees and fees to make transactions on the account. Ask us for additional information about other fees. $350 for loan origination $800 for loan discount $295 for underwriting $200 - $295 for appraisal Borrowing and Repayment Terms Length of Credit Plan 20 years, divided into two periods: Borrowing Period (Years 1-10): During this time you can borrow money. Repayment Period (Years 11-20): During this time you cannot borrow money. You must make a minimum monthly payment during both periods. Balloon Payment Depending on the terms of your payment plan, if you make only the minimum monthly payment you may not pay off your entire balance by the end of the repayment period. If this happens, you will have to pay the remaining balance in a single payment, known as a “balloon payment.” Payment Plans This table shows how we determine minimum monthly payments for two plans that we offer. Other payment plans may be available. Ask us for details. Plan A Borrowing Period (Years 1-10): Your minimum monthly payment would cover interest plus 1.5% of the balance. Repayment Period (Years 11-20): Your minimum monthly payment would cover interest plus enough principal to pay off your entire balance by the end of the repayment period. You would not owe a balloon payment. Plan B Borrowing Period (Years 1-10): Your minimum monthly payment would cover only interest and you would not pay down your balance. Repayment Period (Years 11-20): Your minimum monthly payment would cover interest plus 1% of the balance. You would owe a balloon payment. Plan Comparison: Sample Payments on an $80,000 Balance The table shows examples of your first monthly payments at the current and maximum APRs under each plan if you borrow $80,000 when you open your account and do not borrow any more money. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. Sample Payments under Plan A Borrowing Period (Years 1-10) First Payment Balance at Start of Repayment Period Repayment Period (Years 11-20) First Payment 5.25% (current) $1,550.00 $13,045.00 $140.00 24.99% (max.) $2,866.00 $13,045.00 $297.00 Borrowing Period (Years 1-10) First Payment Balance at Start of Repayment Period Repayment Period (Years 11-20) First Payment 5.25% (current) $350.00 $80,000.00 $1,150.00 24.99% (max.) $1,666.00 $80,000.00 $2,466.00 APR Sample Payments under Plan B APR Plan A vs. Plan B Under Plan A, you would pay less over time and would not owe a balloon payment. Under Plan B, you would pay more over time and would owe a balloon payment if you make only the minimum monthly payments. In the example above, the balloon payment would be $23,950.43. Fixed Interest Rate Option During the borrowing period under either payment plan, you have the option to borrow at a fixed interest rate an amount up to your available credit limit. Ask us for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even if you have borrowed less than your credit limit; Lower your credit limit; and Make other changes to the plan. Ask us for more information about when we can take these actions. The Interest You Pay May Not Be Tax-Deductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. You have no obligation to accept these terms. These terms could change before we open your account. You may be entitled to a refund of all fees you paid if you decide not to open an account. See “Fees” section above for more details. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-14(D) Early Disclosure Sample (Home-equity Plans) December 20, 2011 XXX Bank Loan Officer: 12345 1234 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 You have applied for a home equity line of credit. Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 5.25%. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Fees Refundability of Fees We will refund all fees you paid if you tell us that you do not want to open an account: for any reason within three business days after you receive this statement; or any time before your account is opened if any of these terms (other than the APR) changes. Total Account Opening Fees Up to $1,740, for the following: $350 for loan origination $800 for loan discount $295 for underwriting $200 - $295 for appraisal Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Required Account Protector Plan $0.79 per $100 of balance at the end of each statement period. See enclosed information for details. Other Fees Other fees will apply, such as penalty fees and fees to make transactions on the account. Ask us for additional information about other fees. Borrowing and Repayment Terms Length of Credit Plan You can borrow money for 10 years and must make minimum monthly payments during that time. At the end of this period, you must repay the remaining balance in full. Balloon Payment If you make only the minimum monthly payment you will not pay off your entire balance by the end of the line of credit. At that time, will have to pay the remaining balance in a single payment, known as a “balloon payment.” How Your Minimum Monthly Payments Are Determined Your minimum monthly payment will cover only interest and will not pay down your balance. Sample Payments on an $80,000 Balance The table shows examples of your first monthly payments at the current and maximum APRs if you borrow $80,000 when you open your account and do not borrow any more money. No matter what your rate is, you would owe a balloon payment of $80,000 if you made only minimum monthly payments. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. Sample Payments APR First Payment 5.25% (current) $350.00 24.99% (max.) $1,666.00 Fixed Interest Rate Option You have the option to borrow at a fixed interest rate an amount up to your available credit limit. Ask us for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even if you have borrowed less than your credit limit; Lower your credit limit; and Make other changes to the plan. Ask us for more information about when we can take these actions. The Interest You Pay May Not Be Tax-Deductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. You have no obligation to accept these terms. These terms could change before we open your account. You may be entitled to a refund of all fees you paid if you decide not to open an account. See “Fees” section above for more details. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-14(E) Early Disclosure Sample (Home-equity Plans) December 20, 2011 XXX Bank Loan Officer: 12345 1234 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 You have applied for a home equity line of credit. Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 4.00% introductory APR for the first six months. After that, your APR will be 5.25%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. Fees Refundability of Fees We will refund all fees you paid if you tell us that you do not want to open an account: for any reason within three business days after you receive this statement; or any time before your account is opened if any of these terms (other than the APR) changes. Total Account Opening Fees Up to $1,740, for the following: $350 for loan origination $800 for loan discount $295 for underwriting $200 - $295 for appraisal Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Required Account Protector Plan $0.79 per $100 of balance at the end of each statement period. See enclosed information for details. Other Fees Other fees will apply, such as penalty fees and fees to make transactions on the account. Ask us for additional information about other fees. Borrowing and Repayment Terms Length of Credit Plan 25 or 40 years (depending on the balance at the beginning of the repayment period), divided into two periods: Borrowing Period (Years 1-10): During this time you can borrow money. Repayment Period (starts in Year 11): During this time you cannot borrow money. If your balance at the beginning of the repayment period is less than $20,000, the length of the repayment period will be 15 years. If your balance at the beginning of the repayment period is $20,000 or more, the length of the repayment period will be 30 years. You must make a minimum monthly payment during both periods. How Your Minimum Monthly Payments Are Calculated Borrowing Period (Years 1-10): Your minimum monthly payment will cover only interest and will not pay down your balance. Repayment Period (starts in Year 11): Your minimum monthly payment will cover interest plus enough principal to pay off your entire balance by the end of the repayment period. Sample Payments on an $80,000 Balance The table shows examples of your first monthly payments at the current and maximum APRs if you borrow $80,000 when you open your account and do not borrow any more money. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. Sample Payments Borrowing Period (Years 1-10) First Payment Balance at Start of Repayment Period Repayment Period (Years 11-40) First Payment 5.25% (current) $350.00 $80,000.00 $442.00 24.99% (max.) $1,666.00 $80,000.00 $1,667.00 APR Fixed Interest Rate Option During the borrowing period, you have the option to borrow at a fixed interest rate an amount up to your available credit limit. Ask us for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even you have borrowed less than your credit limit; Lower your credit limit; and Make other changes to the plan. Ask us for more information about when we can take these actions. The Interest You Pay May Not Be TaxDeductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. You have no obligation to accept these terms. These terms could change before we open your account. You may be entitled to a refund of all fees you paid if you decide not to open an account. See “Fees” section above for more details. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-15(A) Account-Opening Disclosure Model Form (Home-equity Plans) [Date] [Name of Creditor] [Loan Originator’s Unique Identifier] [Loan number] [Loan Applicant’s Name] [Loan Applicant’s Address] Borrowing Guidelines Credit Limit [Disclosure of credit limit] First Transaction [Description of any minimum draw requirements at account opening] Minimum Transaction [Description of any minimum draw requirements after account opening] Minimum Balance [Description of any minimum outstanding balance requirement] Limits on Number of Credit Transactions [Description of any limitations on the number of extensions of credit] Limits on Amount of Credit Borrowed [Description of any limitations on the amount of credit that may be obtained during any time period] Annual Percentage Rate Annual Percentage Rate (APR) [APR(s) applicable to the payment plans disclosed in the table, including introductory APR information] [For variable APRs, the following (1) description that the APR varies, (2) how the APR is determined, (3) the frequency of changes in the APR, (4) description of any limitations on changes in the APR (except for minimum and maximum APRs) or a statement that no annual limitation exists, as applicable, and (5) description of any rules relating to changes in the index value and the APR, including preferred rate provisions and rate carryover provisions, if any] Maximum APR [Maximum APR(s) applicable to the payment plans disclosed in the table] Minimum APR [Minimum APR(s) applicable to the payment plans disclosed in the table] Historical Changes to Prime Rate [Description of the lowest and highest value of the index in the past 15 years] Fees Total Account Opening Fees [Description of total one-time account opening fees] [Cross reference to itemization of one-time account opening fees below] [Annual Fee/Monthly Fees] [Description of fees imposed by the creditor for availability of the plan] Early Termination Fee [Description of fees imposed by the creditor for early termination of the plan by the consumer] Required [insert name of required insurance, or debt cancellation or suspension coverage] [Description of cost of insurance, or debt cancellation or suspension plan] Other Fees [Cross reference to disclosure of fees below] [Cross reference to additional information] Borrowing and Repayment Terms Length of Credit Plan [Disclosures of length of plan, length of draw period, and length of any repayment period] [If there is no repayment period on the plan, a statement that after the draw period ends, the consumer must repay the remaining balance in full] [A statement that the consumer can borrow money during the draw period] [If a repayment period is provided, a statement that the consumer cannot borrow money during the repayment period] [A statement indicating whether minimum payments are due in the draw period and any repayment period] [Balloon Payment [Statement that paying only the minimum periodic payments may not repay any of the principal or may repay less than the outstanding balance by the end of the plan] [Statement that a balloon payment may result or will result, as applicable] How Your Minimum Monthly Payments Are Determined [Explanation of how the minimum periodic payment will be determined and the timing of the payments for this plan] [Statement about payment limitations] [Statement about negative amortization] Sample Payments [Statement that the sample payments show the first periodic payments if the consumer borrows the maximum credit available when the account is opened and does not borrow any more money] [Statements about balloon payment] [Statement that the sample payments are not the consumer’s actual payments] [Statement that the actual payments each period will depend on the amount that the consumer has borrowed and the interest rate that period] Borrowing Period (Years __ to __) First Payment [Balance at start of Repayment Period] [Repayment Period (Years __ to __) First Payment] ____% (current) $____ [$____] [$____] ____% (max.) $____ [$____] [$____] APR More Information about Fees Account Opening Fees [itemization of one-time account opening fees] Penalty Fees Late Payment [Description of late payment fee] Over-the-Credit Limit [Description of over-the-credit-limit fee] Balance below $____ [Description of any fees imposed by the creditor for a consumer’s failure to comply with any minimum balance requirements] Returned Payment [Description of returned payment fee] Exceeding Limits on Amount of Credit Borrowed [Description of any fees imposed for a consumer’s failure to comply with any limitations on the amount of credit that may be obtained during any time period] Transaction Fees Transaction less than $____ [Description of any fees imposed for a consumer’s failure to comply with minimum draw requirements] Exceeding Limits on Number of Credit Transactions [Description of any fees imposed for a consumer’s failure to comply with any limitations on the number of extensions of credit] [itemization of any transaction charges imposed by the creditor for use of the home-equity plan] [Statement that information about other fees is included in the account-opening disclosures or agreement, as applicable] [Fixed Interest Rate Option] [Statements about fixed-rate and -term payment plans] [Statement that consumer should ask creditor for details about fixed-rate and -term payment plans] Risks You Could Lose Your Home [Statements about security interest in the consumer’s dwelling and risk to home] You May Not Be Able to Borrow From Your Line of Credit [Statements about possible actions by creditor on HELOC plan] The Interest You Pay May Not Be TaxDeductible [Statements about tax implications] How We Will Calculate Your Balance: [Description of balance computation method] [How to Avoid Paying Interest]/[Paying Interest]: [Description of grace period for purchases, cash advances, or any other credit extension or statement that no grace period applies] Billing Rights: [Reference to account agreement for details on billing-error rights] [Statement that the consumer has no obligation to accept the terms disclosed in the table] [Statement that the consumer should use this form to confirm that these are the terms for which the consumer applied.] [Statement about asking questions] [Statement about Board’s website] [If the creditor has a provision for the consumer’s signature, a statement that a signature by the consumer only confirms receipt of the disclosure statement] [ Borrower’s Signature Date] G-15(B) Account-Opening Disclosure Sample (Home-equity Plans) January 9, 2012 XXX Bank Loan Officer: 12345 1234 Loan Number: 123-12-1234-556 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 4.00% introductory APR for the first six months. After that, your APR will be 5.25%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. Fees Total Account Opening Fees $1,740 (itemized below under “More Information about Fees”) Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Other Fees See below under “More Information about Fees.” Borrowing and Repayment Terms Length of Credit Plan 20 years, divided into two periods: Borrowing Period (Years 1-10): During this time you can borrow money. Repayment Period (Years 11-20): During this time you cannot borrow money. You must make a minimum monthly payment during both periods. Balloon Payment If you make only the minimum payment each month you will not pay off your entire balance by the end of the repayment period. At that time, you will have to pay the remaining balance in a single payment, known as a “balloon payment.” How Your Minimum Monthly Payments Are Determined Borrowing Period (Years 1-10): Your minimum monthly payment will cover only interest and will not pay down your balance. Repayment Period (Years 11-20): Your minimum monthly payment will cover interest plus 1% of the balance. Sample Payments The table shows examples of your first monthly payments at the current and maximum APRs if you borrow $80,000 when you open your account and do not borrow any more money. No matter what your rate is, you would owe a balloon payment of $23,950.43 if you made only minimum monthly payments. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. Borrowing Period (Years 1-10) First Payment Balance at start of Repayment Period Repayment Period (Years 11-20) First Payment 5.25% (current) $350.00 $80,000.00 $1,150.00 24.99% (max.) $1,666.00 $80,000.00 $2,466.00 APR More Information about Fees Account Opening Fees Loan Origination $350 Loan Discount $800 Underwriting $295 Appraisal $295 Penalty Fees Late Payment Either $15 or 5% of the minimum monthly payment, whichever is greater. Over-the-Credit Limit $20 Balance below $500 $25 if your balance falls below $500. Returned Payment $30 Transaction Fees Transaction less than $300 4% of each transaction that is less than $300. This fee does not apply to credit card transactions. Other fees may also apply; see your account agreement for details. Fixed Interest Rate Option During the borrowing period, you have the option to borrow at a fixed interest rate an amount up to your available credit limit. See account agreement for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even if you have borrowed less than your credit limit; Lower your credit limit; and Make other changes to the plan. See your account agreement for details. The Interest You Pay May Not Be TaxDeductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases).” See your account agreement for more details. Paying Interest: We will begin charging interest on each transaction on the date the transaction is posted to your account. Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement. You have no obligation to accept these terms. Use this statement to confirm that these are the terms for which you applied. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-15(C) Account-Opening Disclosure Sample (Home-equity Plans) January 9, 2012 XXX Bank Loan Officer: 12345 1234 Loan Number: 123-12-1234-556 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 5.25%. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Fees Total Account Opening Fees $1,740 (itemized below under “More Information about Fees”) Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Required Account Protector Plan $0.79 per $100 of balance at the end of each statement period. See enclosed information for details. Other Fees See below under “More Information about Fees.” Borrowing and Repayment Terms Length of Credit Plan You can borrow money for 10 years and must make minimum monthly payments during that time. At the end of this period, you must repay the remaining balance in full. Balloon Payment If you make only the minimum payment each month you will not pay off your entire balance by the end of the line of credit. At that time, you will have to pay the remaining balance in a single payment, known as a “balloon payment.” How Your Minimum Monthly Payments Are Determined Your minimum monthly payment will cover only interest and will not pay down your balance. Sample Payments The table shows examples of your first monthly payments at the current and maximum APRs if you borrow $80,000 when you open your account and do not borrow any more money. No matter what your rate is, you will owe a balloon payment of $80,000 if you made only minimum monthly payments. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. APR Borrowing Period (Years 1-10) First Payment 5.25% (current) $350.00 24.99% (max.) $1,666.00 More Information about Fees Account Opening Fees Loan Origination $350 Loan Discount $800 Underwriting $295 Appraisal $295 Penalty Fees Late Payment Either $15 or 5% of the minimum monthly payment, whichever is greater. Over-the-Credit Limit $20 Balance below $500 $25 if your balance falls below $500. Returned Payment $30 Transaction Fees Transaction less than $300 4% of each transaction that is less than $300. This fee does not apply to credit card transactions. Other fees may also apply; see your account agreement for details. Fixed Interest Rate Option You have the option to borrow at a fixed interest rate an amount up to your available credit limit. See account agreement for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even if it is available under your credit limit; Lower your credit limit; and Make other changes to the plan. See your account agreement for details. The Interest You Pay May Not Be TaxDeductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases).” See your account agreement for more details. Paying Interest: We will begin charging interest on each transaction on the date the transaction is posted to your account. Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement. You have no obligation to accept these terms. Use this statement to confirm that these are the terms for which you applied. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-15(D) Account-Opening Disclosure Sample (Home-equity Plans) January 9, 2012 XXX Bank Loan Officer: 12345 1234 Loan Number: 123-12-1234-556 Joe Smith & Jane Doe 1234 Main Street, Anytown, ST 12345 Borrowing Guidelines Credit Limit $80,000 First Transaction You must borrow at least $10,000 when you open the account. Minimum Transaction After the initial transaction, each transaction you make must be at least $300. Minimum Balance You must keep a minimum balance of at least $500. Annual Percentage Rate Annual Percentage Rate (APR) 4.00% introductory APR for the first six months. After that, your APR will be 5.25%. This is a variable rate that will change monthly based on the Prime Rate plus 1.00%. There is no limit on how much the rate can change in one year. Maximum APR 24.99% Historical Changes to Prime Rate Over the past 15 years, the Prime Rate has varied between 4.25% and 10.00%. Fees Total Account Opening Fees $1,740 (itemized below under “More Information about Fees”) Annual Fee $50 Early Termination Fee $500 or .125% of the credit limit, whichever is greater, if you close your account within three years. Required Account Protector Plan $0.79 per $100 of balance at the end of each statement period. See enclosed information for details. Other Fees See below under “More Information about Fees”. Borrowing and Repayment Terms Length of Credit Plan 25 or 40 years (depending on the balance at the beginning of the repayment period), divided into two periods: Borrowing Period (Years 1-10): During this time you can borrow money. Repayment Period (starts in Year 11): During this time you cannot borrow money. If your balance at the beginning of the repayment period is less than $20,000, the length of the repayment period will be 15 years. If your balance at the beginning of the repayment period is $20,000 or more, the length of the repayment period will be 30 years. You must make a minimum monthly payment during both periods. How Your Minimum Monthly Payments Are Determined Borrowing Period (Years 1-10): Your minimum monthly payment will cover only interest and will not pay down your balance. Repayment Period (starts in Year 11): Your minimum monthly payment will cover interest plus enough principal to pay off your entire balance by the end of the repayment period. Sample Payments The table shows examples of your first monthly payments at the current and maximum APRs if you borrow $80,000 when you open your account and do not borrow any more money. These are not your actual payments. Your actual payment each month will depend on the amount that you have borrowed and the interest rate that month. Borrowing Period (Years 1-10) First Payment Balance at Start of Repayment Period Repayment Period (Years 11-40) First Payment 5.25% (current) $350.00 $80,000.00 $442.00 24.99% (max.) $1,666.00 $80,000.00 $1,667.00 APR More Information about Fees Account Opening Fees Loan Origination $350 Loan Discount $800 Underwriting $295 Appraisal $295 Penalty Fees Late Payment Either $15 or 5% of the minimum monthly payment, whichever is greater. Over-the-Credit Limit $20 Balance below $500 $25 if your balance falls below $500. Returned Payment $30 Transaction Fees Transaction less than $300 4% of each transaction that is less than $300. This fee does not apply to credit card transactions. Cash Advance Using a Credit Card Either $2 or 2% of the amount of each cash advance, whichever is greater. Foreign Transaction Using a Credit Card 1% of each transaction in U.S. dollars. Other fees may also apply; see your account agreement for details. Fixed Interest Rate Option During the borrowing period, you have the option to borrow at a fixed interest rate an amount up to your available credit limit. See account agreement for details. Risks You Could Lose Your Home Your credit plan will be secured by your home. This means you could lose your home if you cannot repay the money you owe, or otherwise default. You May Not Be Able to Borrow From Your Line of Credit Under certain circumstances, we can: Terminate your line of credit, make you pay the outstanding balance in one payment, and charge you fees upon termination; Not allow you to borrow any more money, even if you have borrowed less than your credit limit; Lower your credit limit; and Make other changes to the plan. See your account agreement for details. The Interest You Pay May Not Be TaxDeductible If you borrow more than your home is worth, the interest on the extra amount may not be deductible for federal income tax purposes. Consult a tax advisor to find out whether the interest you pay is deductible. How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases).” See your account agreement for more details. Paying Interest: We will begin charging interest on each transaction on the date the transaction is posted to your account. Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement. You have no obligation to accept these terms. Use this statement to confirm that these are the terms for which you applied. Ask questions if you do not understand any part of this form. For more information, go to www.xxx.gov. By signing below, I acknowledge receipt of this form. Borrower’s Signature Date G-24(A) Periodic Statement Transactions; Interest Charges; Fees Sample (Home-equity Plans) Transactions Reference Number 5884186ps0388w6ym Trans Date 2/22 Post Date 2/23 Description of Transaction or Credit Variable Rate Advance Amount $3,000.00 0544400060zlV72Vl 2/24 2/25 Fixed Rate Advance $5,000.00 854338203Fs8oo0z5 2/25 2/25 pymt Thank you $500.00– Fees 9525156489sFD4545Q 2/23 2/23 late Fee $15.00 56415615647oJsNDs 2/26 2/26 Fixed Rate Advance Fee $50.00 TOTAL FEES FOR THIS PERIOD Interest Charged Interest Charge on Variable Rate Advances Interest Charge on Fixed Rate Advances TOTAL INTEREST FOR THIS PERIOD 2012 Totals Year-to-Date Total fees charged in 2012 Total interest charged in 2012 $80.00 $258.83 $65.00 $122.51 $26.82 $149.33 G-24(B) Periodic Statement Sample (Home-equity Plans) Page 1 of 2 XXX Bank Home Equity Line of Credit Account Statement Account Number XXXX XXXX XXXX XXXX February 21, 2012 to March 22, 2012 Payment Information Summary of Account Activity Previous Balance New Balance Minimum Payment Due $25,105.00 Payments -$0.00 Other Credits Payment Due Date $0.00 Variable Rate Advances +$2,500.00 Fixed Rate Advances +$5,000.00 Fees Charged +$149.33 New Balance $32,819.33 Credit Limit $80,000.00 Available Credit $47,180.67 Statement Closing Date 4/20/12 QUESTIONS? Call Customer Service Lost or Stolen Credit Card +$65.00 Total Interest Charged $32,819.33 $149.33 1-XXX-XXX-XXXX 1-XXX-XXX-XXXX Please send billing inquiries and correspondence to: PO Box XXXX, Anytown, Anystate XXXXX 3/22/2012 Days in Billing Cycle 31 Notice of Changes to Your Interest Rates You have triggered the penalty APR of 24.99%. This change will impact your account as follows: Transactions on your account (other than your fixed-rate loan): As of 5/10/12, the penalty APR will apply to these transactions. We may keep the APR at this level indefinitely. Fixed-rate loan: The current APR will continue to apply to this balance. Transactions Reference Number Trans Date Post Date Description of Transaction or Credit Amount Payments and Other Credits 854338203FS8OO0z5 No Pymt $0.00 Advances 5884186PS0388w6YM 2/22 2/23 Variable Rate Advance $2,500.00 0544400060zLV72VL 2/24 2/25 Fixed Rate Advance $5,000.00 Fees 9525156489SFD4545Q 2/23 2/23 Late Payment Fee $15.00 56415615647OJSNDS 3/22 3/22 Fixed Rate Advance Fee $50.00 TOTAL FEES FOR THIS PERIOD $65.00 Interest Charged Interest Charge on Variable Rate Advances $122.51 Interest Charge on Fixed Rate Advances $26.82 TOTAL INTEREST FOR THIS PERIOD $149.33 2012 Totals Year-to-Date $80.00 $258.83 Total fees charged in 2012 Total interest charged in 2012 NOTICE: SEE REVERSE SIDE FOR IMPORTANT INFORMATION Page 1 of 2 Please detach this portion and return with your payment to insure proper credit. Retain upper portion for your records. Please indicate address change and additional requests on the reverse side. Account Number: XXXX XXXX XXXX XXXX New Balance $32,819.33 Minimum Payment Due $149.33 Payment Due Date 4/20/12 AMOUNT ENCLOSED: $ XXX Bank P.O. Box XXXX Anytown, Anystate XXXXX l l l l ll lll llll ll ll llllll ll llll llll ll llll llll lllll l l l lll lll lll ll ll ll ll l l l ll l lll llll ll ll ll lll llll ll ll l lllll l lll lll ll l ll llll XXX Bank Home Equity Line of Credit Account Statement Account Number XXXX XXXX XXXX XXXX February 21, 2012 to March 22, 2012 Page 2 of 2 Interest Charge Calculation Your Annual Percentage Rate (APR) is the annual interest rate on your account. Type of Balance Annual Percentage Rate (APR) Balance Subject to Interest Rate Interest Charge Variable Rate Advances 5.25% $27,475.97 $122.51 Fixed Rate Advances 7.25% $4,354.84 $26.82 G-24(C) Periodic Statement Sample (Home-equity Plans) Page 1 of 2 XXX Bank Home Equity Line of Credit Account Statement Account Number XXXX XXXX XXXX XXXX February 21, 2012 to March 22, 2012 Summary of Account Activity Payment Information Previous Balance New Balance Minimum Payment Due $25,105.00 Payments -$500.00 Other Credits Payment Due Date $0.00 Variable Rate Advances +$3,000.00 Fixed Rate Advances +$5,000.00 Fees Charged +$149.33 New Balance $32,819.33 Credit Limit $80,000.00 Available Credit $47,180.67 Statement Closing Date 4/20/12 QUESTIONS? Call Customer Service +$65.00 Total Interest Charged $32,819.33 $149.33 1-XXX-XXX-XXXX Please send billing inquiries and correspondence to: PO Box XXXX, Anytown, Anystate XXXXX 3/22/2012 Days in Billing Cycle 31 Important Changes to Your Account Terms The following is a summary of changes that are being made to your account terms. You have the right to opt out of some of these changes. For more details, please refer to the information enclosed with this statement. These changes will take effect on 5/10/12. Revised Terms, as of 5/10/12 Credit Limit $100,000 How We Will Calculate Your Balance Daily Balance Transactions Reference Number 5884186PS0388w6YM Trans Date 2/22 Post Date 2/23 Description of Transaction or Credit Variable Rate Advance Amount $3,000.00 0544400060zLV72VL 2/24 2/25 Fixed Rate Advance $5,000.00 854338203FS8OO0z5 2/25 2/25 Pymt Thank You $500.00– Fees 9525156489SFD4545Q 2/23 2/23 Late Fee $15.00 56415615647OJSNDS 2/26 2/26 Fixed Rate Advance Fee $50.00 TOTAL FEES FOR THIS PERIOD Interest Charged $65.00 Interest Charge on Variable Rate Advances Interest Charge on Fixed Rate Advances TOTAL INTEREST FOR THIS PERIOD $122.51 $26.82 $149.33 2012 Totals Year-to-Date Total fees charged in 2012 Total interest charged in 2012 $80.00 $258.83 NOTICE: SEE REVERSE SIDE FOR IMPORTANT INFORMATION Page 1 of 2 Please detach this portion and return with your payment to insure proper credit. Retain upper portion for your records. Please indicate address change and additional requests on the reverse side. Account Number: XXXX XXXX XXXX XXXX New Balance $32,819.33 Minimum Payment Due $149.33 Payment Due Date 4/20/12 AMOUNT ENCLOSED: $ XXX Bank P.O. Box XXXX Anytown, Anystate XXXXX l l l l ll lll llll ll ll llllll ll llll llll ll llll llll lllll l l l lll lll lll ll ll ll ll l l l ll l lll llll ll ll ll lll llll ll ll l lllll l lll lll ll l ll llll XXX Bank Home Equity Line of Credit Account Statement Account Number XXXX XXXX XXXX XXXX February 21, 2012 to March 22, 2012 Page 2 of 2 Interest Charge Calculation Your Annual Percentage Rate (APR) is the annual interest rate on your account. Annual Percentage Rate (APR) Balance Subject to Interest Rate Interest Charge Variable Rate Advances 5.25% $27,475.97 $122.51 Fixed Rate Advances 7.25% $4,354.84 $26.82 Type of Balance G-25 Change-in-Terms Sample (Home-equity Plans) Important Changes to Your Account Terms The following is a summary of changes that are being made to your account terms. You have the right to opt out of some of these changes. For more details, please refer to the information enclosed with this statement. These changes will take effect on 5/10/12. Revised Terms, as of 5/10/12 Credit Limit $100,000 How We Will Calculate Your Balance Daily Balance G-26 Rate Increase Sample (Home-equity Plans) Notice of Changes to Your Interest Rates You have triggered the penalty APR of 24.99%. This change will impact your account as follows: Transactions on your account (other than your fixed-rate loan): As of 5/10/12, the penalty APR will apply to these transactions. We may keep the APR at this level indefinitely. Fixed-rate loan: The current APR will continue to apply to this balance.