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Loan Modification

: Mortgage Lender Implode-o-Meter

5,000-Plus Responses Spurs Fed Not to Proceed With Three Rules

By Implode-Explode Heavy Industries

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"The Federal Reserve Board (FRB) has announced that it does not expect to finalize three pending rulemakings under Regulation Z, which implements the Truth-in-Lending Act (TILA), prior to the transfer of authority for such rulemakings to the Consumer Financial Protection Bureau (CFPB). The proposed rules were published as part of the Board's comprehensive review of its mortgage lending regulations under TILA. In response to the three proposals, the Board received more than 5,000 comments expressing divergent views on many substantive and technical issues."

Full post as published by Mortgage Lender Implode-o-Meter on February 01, 2011 (boomark / email).

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