Myth of the Truth in Lending Statement

The speaker explores the myth that the truth in lending document actually provides the borrower with more transparency.  He cites that many lenders will flaunt a low APR which was bought down by points or high fees.  He suggests that lenders have found a loophole.  Lenders will lower your rate by increasing fees; these fees are not tax deductible while points are.  He suggests that the borrower should run from lenders who offer high fees and low rates.