Home Mortgage Disclosure (Us Federal Reserve System Regulation) (Frs) (2018 Edition)

Download or read book Home Mortgage Disclosure (Us Federal Reserve System Regulation) (Frs) (2018 Edition) written by The Law The Law Library and published by Createspace Independent Publishing Platform. This book was released on 2018-10-08 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Home Mortgage Disclosure (US Federal Reserve System Regulation) (FRS) (2018 Edition) The Law Library presents the complete text of the Home Mortgage Disclosure (US Federal Reserve System Regulation) (FRS) (2018 Edition). Updated as of May 29, 2018 The Board is publishing final rules to amend Regulation C (Home Mortgage Disclosure) to revise the rules for reporting price information on higher-priced loans. The rules are being conformed to the definition of "higher-priced mortgage loan" adopted by the Board under Regulation Z (Truth in Lending) in July of 2008. Since 2004, Regulation C has required lenders to collect and report the spread between the annual percentage rate (APR) on a loan and the yield on Treasury securities of comparable maturity if the spread is equal to or greater than 3.0 percentage points for a first-lien loan (or 5.0 percentage points for a subordinate-lien loan). Under the final rule, a lender will report the spread between the loan's APR and a survey-based estimate of APRs currently offered on prime mortgage loans of a comparable type if the spread is equal to or greater than 1.5 percentage points for a first-lien loan (or 3.5 percentage points for a subordinate-lien loan). This book contains: - The complete text of the Home Mortgage Disclosure (US Federal Reserve System Regulation) (FRS) (2018 Edition) - A table of contents with the page number of each section