In the context of mortgage regulations, what is the term for the obligation to disclose loan terms?

The term "Truth in Lending" refers to a set of regulations that mandates lenders to disclose the terms and costs associated with obtaining credit. This legal requirement is designed to promote informed consumer choices in the mortgage market by ensuring that borrowers have access to all pertinent information regarding their loans. The truth-in-lending laws require lenders to present the Annual Percentage Rate (APR), total costs of borrowing, and payment schedules in a clear and comprehensible manner, empowering consumers to make better financial decisions.

Other terms like "transparency requirement," "disclosure obligation," and "full disclosure" may capture elements of the overall intent to provide information, but they do not specifically refer to the regulatory framework established under the Truth in Lending Act (TILA), which is pivotal in safeguarding consumers against misleading lending practices.