Summary of Proposed Rule to amend Regulation Z to include PACE financing
Updated 10/10/2023
- Pace financing is a mechanism that enables property owners to finance certain upgrades to real property through an assessment on their real property.
- The Proposed Rule would result in all of Regulation Zās provisions potentially applying to PACE loans.
- Under the Proposed Rule, TRID forms would be provided for PACE financing with certain proposed modifications and creditors would have to consider PACE obligations under the Ability-to-Repay rule.
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