Fed Proposes Consumer Notice When Loan is Sold or Transferred
November 23, 2009
The Federal Reserve Board is seeking comment on an interim final rule that would require purchasers or assignees of loans to provide notice to consumers when their mortgage loans have been sold or transferred. The interim rule implements a new section of the Truth in Lending Act, which Congress enacted in May as part of the Helping Families Save Their Homes Act. The HFSTHA aims to...