Latest Lending Topics

Like Truth in Lending, the rules on HMDA never seem to stay put for more than a year. Keeping up the tradition of annual changes, the Federal Reserve Board has proposed changes to Regulation C.

The Federal Reserve Board has published for comment regulations to implement the 1996 amendments to the Equal Credit Opportunity Act.

The Home Ownership and Equity Protection Act of 1994 requires the Federal Reserve Board to adjust the total amount of "total points and fees" paid by the borrower that triggers the additional discl

In keeping with its annual schedule for updating the Regulation Z commentary, the Federal Reserve Board has proposed revisions to the commentary.

Managing a compliance program for fair lending has always been difficult because so much of fair lending turns on the fact situation and how it is viewed.

[Date]
William W. Wiles           RE: Docket No. R-0942
Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, N.W.

If compliance specialists got a nickel for each time they answered a question on what loans are covered by which regulations or rules, we'd all be in a higher tax bracket.

RESPA and Regulation X apply to all federally related mortgage loans, loans secured by a one- to four-family dwelling. The dwelling that secures the loan need not be the applicant's.

Truth in Lending and Regulation Z apply to all consumer credit, that is, credit requested by a consumer and for the use of the consumer. Business loans are exempt from Regulation Z.

Question: When an applicant changes their loan request while the application is being processed, must we provide a new good faith estimate or is the one we provided when the application was