One of the new CFPB amendments to Regulation Z includes a small, yet significant, revision to 12 CFR § 1026.23(a)(3)(ii) regarding the Right to Rescind rules (see 78 FR 60440). Under Subsection 23(a)(2)(i), a consumer:
“. . ….
We are pleased to announce that the changes to our generic ARM Disclosures, as mentioned in the section named “Revised Notices on ARM Disclosures” in our article entitled “The January 2014 CFPB Regulations – Update” (available http://www.docutechcorp.com/the-january-2014-cfpb-regulations-update),…
We are pleased to announce that we are publishing for general distribution a webinar on the regulatory changes, made pursuant to the Dodd-Frank Act, taking effect this month.
This webinar is divided into sections for each of the new disclosures which will begin printing in packages at various times this month,…
Pursuant to our yearly audit of state-specific disclosures, we will be making the following changes to the following documents provided in connection with loans secured by property in California:
New Disclosures
We will be providing a new Request for Fair Lending Information (Cx18014) document,…
1) Missing Loan Originator Information at Closing Error
The CFPB has created a new subsection of Regulation Z (12 CFR § 1026.36[g]), which requires that the names and NMLS numbers of the loan originator primarily responsible for a loan and the loan originating company he works for be disclosed on different loan documents,…
Md. Code Ann., Com. Law § 12-913.1 permits a credit grantor to make a loan pursuant to Subtitle 10, Title 12 of Maryland’s Commercial Law, if such an election is made in the promissory note (or any other agreement evidencing the loan),…
The CFPB has created a new subsection of Regulation Z (12 CFR § 1026.36[g]), which requires that the names and NMLS numbers of the loan originator primarily responsible for a loan and the loan originating company he works for, be disclosed on several different loan documents,…
Earlier this year, 2013 Oregan Laws. Ch. 200 (H.B. 2528), which amended the definitions found in Ore. Rev. Stat. Ann. § 86.205 (West 2013), was passed into law with an effective date of January 1, 2014.
A significant change made by this bill was to the definition of a “real estate loan agreement” or “real estate loan” in Subsection (7) of the aforementioned section….
The Federal Itemization of Amount Financed disclosure, provided pursuant to 12 CFR 1026.18, has been modified to fit on letter-size paper. Currently, cx14224 and cx14644 print on legal-size paper by default, but this will be changed to have the documents print letter-sized by default….
We are pleased to announce that we have completed our new disclosure for fulfilling the requirements of 12 CFR § 1026.32(c) in connection with closed-end high-cost loans (HCLs), as described in more detail in our article entitled “The January 2014 CFPB Regulations” (available at http://www.docutechcorp.com/the-january-2014-cfpb-regulations)….
