new-consumer-mortgage-protections-due-soon

new-consumer-mortgage-protections-due-soon - New Consumer...

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New Consumer Mortgage Protections Due Soon URL: http://www.mortgageloan.com/new-consumer-mortgage-protections-due-soon-3460 Author: Kirk Haverkamp Published: August 31, 2009 1
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New Consumer Mortgage Protections Due Soon http://www.mortgageloan.com/new-consumer-mortgage-protections-due-soon-3460 New Consumer Mortgage Protections Due Soon Mortgage rules are about to change, with new consumer protections going into effect on Oct. 1. The new rules - being enacted by the Federal Reserve - are designed to help ensure that consumers have a better idea of what the terms of a particular mortgage loan will cost them, and help them avoid being steered into unnecessarily costly loans. They're part of a series of new rules that the Fed and Department of Housing and Urban Development are putting into effect to protect consumers from abusive lending practices. Among the most significant of the new rules are several affecting high-interest rate loans, the type usually taken out by subprime borrowers and which were widely implicated in the collapse of the
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This note was uploaded on 11/08/2009 for the course ART finc5000 taught by Professor None during the Spring '09 term at American College of Computer & Information Sciences.

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new-consumer-mortgage-protections-due-soon - New Consumer...

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