Consumer Issues & Information

2012

 
 
Date Title Category
August 15, 2012 Truth in Lending

A new proposed interagency rule would amend the Truth in Lending Act and set new standards for appraisals related to “higher-risk loans,” those residential mortgage loans with APRs exceeding the average prime offer rate for comparable transactions. Comments on the proposal are due October 15, except for comments on the proposal’s Paperwork Reduction Act analysis, which are due 60 days from its forthcoming publication in the Federal Register.

Consumer
August 2, 2012 Foreclosure Review

The Federal Reserve and OCC have extended the deadline by which borrowers can seek review of their mortgage foreclosures to December 31.

Consumer
June 21, 2012 Foreclosure Review

New guidance, released today, will help determine the compensation or other remedy borrowers will receive for financial injury identified during the Independent Foreclosure Review. Eligible borrowers may request a free review of their mortgage foreclosures through September 30.

Consumer
June 21, 2012 Mortgage Servicing

The federal financial regulatory agencies have released new guidance to help ensure that mortgage servicers meet their obligations to military servicemembers who’ve received Permanent Change of Station orders.

Consumer
April 5, 2012 Other Real Estate Owned

As part of an orderly OREO disposition strategy, banking organizations may rent residential properties acquired in foreclosure and, to the extent those OREO properties meet the Community Reinvestment Act’s definition of “community development,” receive favorable CRA consideration for them.

Consumer