Change to Maine Net Tangible Benefit Disclosure
On January 17, 2008 the Maine Department of Professional and Financial Regulation released Joint Advisory Ruling #114 to clarify disclosure requirements promulgated under the "Act to Protect Maine Homeowners from Predatory Lending." A copy of the ruling can be found at this link.
The net tangible benefit analysis required for "flipping" now only applies to subprime mortgage loans. As a result, the department modified the Reasonable, Net Tangible Benefit Form to make it refer to subprime mortgage loans only. The revised form will be available following the nightly synch on January 26, 2008.
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Mortgage Compliance Updates - Mortgage Loan Docs
Mortgage Document Updates - July 2008 The New HOEPA Rule - 2008 Housing and Economic Recovery Act - 2008 Mortgage Document Updates - June 2008 Rebuild After National Mortgage Crisis New Mortgage Legislation Effective July Courts Side With Borrowers Over Lenders Kentucky Emergency Rule (HB 552) Prepays FHA Mortgage Insurance Premium Calculations Mortgage Document Updates - May 2008 Kentucky Emergency Rule (HB 552) Home Foreclosure Blocked Due to Predatory Lending Violations HUD Proposes RESPA Reform 2008 California RE 885 Disclosure Mortgage Document Updates - March 2008 Massachusetts Borrower Counseling Disclosure Proposed Regulation-Z Changes Mortgage Document Updates - February 2008 DC Adds New Disclosure For Non-Conventional Loans Conforming Loan Limits Increased Mortgage Document Updates - January 2008 Countrywide Interest Credit Clarification Maine Net Tangible Benefit Disclosure Up New Massachusetts Regulations Take Effect Maine Requires Net Tangible Benefit Form Colorado Emergency Prepay Rule MERS Requires Street Address on NY Docs California Certificate of Acknowledgement Change Texas Notice Concerning Extensions of Credit Colorado Adopts Emergency Rule
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