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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  January 31, 2011  |   Regulation Z Takes Effect
Regulation Z, a monthly payment disclosure within mortgages, took effect on Jan. 30. Enacted by the Federal Reserve, it requires lenders to disclose how and when a loan's interest rate may change.

Lenders also now must provide an interest rate and payment summary in the form of a table instead of a payment schedule box.

Source: Housing Wire, Jason Philyaw (01/31/11)

© Copyright 2011 Information Inc.

Read more:

New ‘Reg Z’ Rules Could Slow Closings

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