A recent memo from the legal department of the California Association of Realtors® has brought to our attention some changes in rules for advertising mortgage loans. “The Federal Reserve Board has adopted, under TILA [Truth in Lending Act] Section 129(l)(2), 15 U.S.C. 1639(l)(2), rules to prohibit the following seven deceptive or misleading practices in advertisements […]
Entries Tagged as 'Annual Percentage Rate'
NEW RULES FOR MORTGAGE LOAN ADVERTISING
January 17th, 2010 · No Comments
Tags: California Association of Realtors · Interest Rates · Advertising · Truth In Advertising · New Laws In 2010 · Mortgage Loan Originators · Annual Percentage Rate · Misrepresentation · Mortgage Lending · CAR · Lending · Mortgage Funding · Mortgage Servicing · Bob Hunt
NEW LOAN DISCLOSURE RULES MAY CAUSE ESCROW DELAYS
July 27th, 2009 · No Comments
Under new rules adopted by the Federal Reserve Board, beginning July 30, 2009, mortgage lending will be subject to expanded disclosure requirements. This may well be a good thing. However, until everyone gets used to it, it also may cause occasional delays in closings. First, some background.
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More than a few times home purchasers have been […]
Tags: Mortgage Disclosure Improvement Act · Origination Fee · Nominal Rate · Regulation Z · Truth in Lending Act · Good Faith Estimate · RESPA · Note Rate · Interest Rates · Mortgage Funding · Mortgage Lending · Bob Hunt · Federal Reserve Board · Home Buyers · Annual Percentage Rate · Loan Fees · Disclosure