What must be included in the Mortgage Loan Disclosure Statement?

The Mortgage Loan Disclosure Statement is designed to provide borrowers with essential information about the terms and costs associated with a mortgage loan. This requirement ensures that consumers can make informed decisions regarding their financing options. By including key loan terms, risks, and costs in the disclosure statement, borrowers gain a clear understanding of their obligations and the potential long-term impacts of the loan.

The elements highlighted in the correct choice encompass information such as interest rates, significant fees, and any other charges associated with the mortgage. Having this information allows recipients of the disclosure statement to compare offers from different lenders effectively, understanding both the financial obligations and the risks involved in their loan.

The other options do not meet the criteria for what must be included in the Mortgage Loan Disclosure Statement. For example, while total interest paid over the life of the loan might be informative, it is not a mandatory disclosure item. Similarly, requiring a credit score in the disclosure could be relevant but isn't a standard requirement for this statement. Lastly, information about the lender's business history, while useful in assessing the lender's credibility, is not a part of the mandatory disclosures tied to the mortgage loan terms. Thus, the correct choice accurately reflects the purpose of the disclosure statement within the framework of Regulation Z.