2010-12-23 — nationalmortgageprofessional.com
"The Federal Reserve Board (FRB) has approved an interim rule amending Regulation Z, which implements the Truth-in-Lending Act (TILA). The Board is issuing this interim rule to clarify certain aspects of a Sept. 24, 2010 interim rule, in response to public comments. The September interim rule implements provisions of the Mortgage Disclosure Improvement Act (MDIA) which amended TILA to require mortgage lenders to disclose examples of how a loan's interest rate or monthly payments can change. Those statutory amendments will become effective on Jan. 30, 2011."
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