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: CL&P BlogNew HUD Mortgage Disclosure Rule Out
By Alan White
HUD published its long-awaited RESPA mortgage disclosure rule in today's Federal Register. The proposed rule includes new model forms to be provided to consumers buying or refinancing a home. This proposal, in the works for years, aims to provide mortgage shoppers with more accurate and understandable disclosures about the terms of the mortgage for which they are applying. It overlaps, to a considerable degree, the Federal Reserve's proposal to amend TILA disclosure rules for mortgages. Hopefully, HUD and the Fed can coordinate their efforts and come closer to the ideal of an early, free, binding, clear and comprehensive price offer for mortgages.
Full post as published by CL&P Blog on March 14, 2008 (boomark / email).
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