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Tag Archives: mortgages
Rules on Mortgage Loans
The Federal Reserve Board on Monday announced final rules to implement a statutory amendment to the Truth in Lending Act requiring that consumers receive notice when their mortgage loan has been sold or transferred. The new disclosure requirement became effective in May 2009, upon enactment of the Helping Families Save Their Homes Act. Under that [...]
Mortgage Loan Sales
The Federal Reserve Board on Monday announced final rules to implement a statutory amendment to the Truth in Lending Act requiring that consumers receive notice when their mortgage loan has been sold or transferred. The new disclosure requirement became effective in May 2009, upon enactment of the Helping Families Save Their Homes Act. Under that [...]
Home Mortgage Transactions
The Federal Reserve Board on Monday proposed enhanced consumer protections and disclosures for home mortgage transactions. The proposal includes significant changes to Regulation Z (Truth in Lending) and represents the second phase of the Board’s comprehensive review and update of the mortgage lending rules in the regulation. The proposed changes reflect the results of consumer [...]
Mortgage Loan Sales
The Federal Reserve Board on Monday announced final rules to implement a statutory amendment to the Truth in Lending Act requiring that consumers receive notice when their mortgage loan has been sold or transferred. The new disclosure requirement became effective in May 2009, upon enactment of the Helping Families Save Their Homes Act. Under that [...]
Closed End Mortgages
The Federal Reserve Board on Monday issued an interim rule that revises the disclosure requirements for closed-end mortgage loans under Regulation Z (Truth in Lending). The interim rule implements provisions of the Mortgage Disclosure Improvement Act (MDIA) that require lenders to disclose how borrowers’ regular mortgage payments can change over time. The MDIA, which amended [...]
Reverse Mortgage Products
The Federal Financial Institutions Examination Council (FFIEC) released guidance today on reverse mortgage products. The guidance, adopted by each of the financial regulators,1 emphasizes the consumer protection concerns raised by reverse mortgages and the importance of financial institutions mitigating the compliance and reputation risks associated with these products. The guidance also addresses the general features [...]
Home Mortgage Disclosure Act
The Federal Reserve Board on Friday announced that it will hold four public hearings, beginning in July, on potential revisions to Regulation C, which implements the Home Mortgage Disclosure Act. The act requires mortgage lenders to provide detailed annual reports of their mortgage lending activity to regulators and the public. Consumers, community and consumer organizations, [...]
Loan Modification Scam Prevention Network
Washintgon, DC – The Loan Modification Scam Prevention Network, led by Fannie Mae, Freddie Mac (NYSE:FRE), the Lawyers’ Committee for Civil Rights Under Law and NeighborWorks America, today announced a national campaign to prevent loan modification scams through public education, complaint reporting and coordination with local, state, and federal enforcement agencies. As part of the [...]
Posted in Uncategorized Also tagged financing, Freddie Mac, loan modification scams, scam Leave a comment
National Housing Survey
Our purpose was to gauge the public’s current attitudes toward housing, especially in light of the current housing crisis. This comprehensive research project asked more than 3,000 consumers about their confidence in homeownership as an investment, the current state of their household finances, their views on the U.S. housing finance system and their overall confidence [...]
Posted in Uncategorized Also tagged buy, Fannie Mae, for sale, homes, houses, real estate Leave a comment
Rules to Protect Mortgage Borrowers