Fed Issues Final Rules on HERA’s Early Truth-in-Lending Disclosures
May 11, 2009
The Federal Reserve Board last week approved final rules requiring creditors to provide early disclosures to consumers about the cost of the mortgage they are trying to obtain for either a primary or secondary home. The final rules revise the mortgage disclosure requirements under the Truth in Lending Act’s Regulation Z and implement the Mortgage Disclosure Improvement Act of 2008...