Full statement of closing costs

§ 409. Full statement of closing costs Section 121 of the Truth in Lending Act (15 U.S.C. 1631) is amended by adding at the end thereof a new subsection as follows: “(c) For the purpose of subsection (a), the information required under this chapter shall include a full statement of closing costs to be incurred by the consumer, which shall be presented, in accordance with the regulations of the Board— “(1) prior to the time when any downpayment is made, or “(2) in the case of a consumer credit transaction involving real property, at the time the creditor makes a commitment with respect to the transaction. The Board may provide by regulation that any portion of the information required to be, disclosed by this section may be given in the form of estimates where the provider of such information is not in a position to know exact information.”