What is the purpose of the 'Reg Z Section 32 Applies' prompt on the Document Data page?

This prompt is used to indicate that the transaction is subject to high-cost mortgage requirements of Regulation Z (12 C.F.R. 1026.32). Select Reg Z Section 32 if high-cost requirements apply to this transaction. Unselect it to specify that the transaction is not a high-cost mortgage. It is your responsibility to ensure that this prompt is correctly left blank or selected.

Refer to Regulation Z for detailed requirements. In summary, high-cost mortgage requirements generally apply to any qualifying consumer loan that is secured by the consumer’s principal dwelling (for example, 1-4 unit residential real property or a manufactured home, among others). Certain loans are exempt from high-cost mortgage requirements, even when secured by the consumer’s principal dwelling.