Topic: Adjustable Rate Mortgages (ARMs)
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DFI: Variable Rate Transactions: Wisconsin Consumer Act Approved Indices
Pursuant to Sec. 422.421(1)(a), Wis. Stats., the administrator of the Wisconsin Consumer Act may approve indices for use by all credit grantors in connection with variable rate consumer credit transactions. […]
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DFI: Wisconsin Consumer Act – Ceilings and Floors on Variable Rate Loans (10/18/2001) Interpretive Opinions Issued by DFI
***** …DFI approves of a procedure under the WCA, in which caps and floors are implemented on variable rate openend lines of credit, without regard to the initial index value […]
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Wis. Stats: 422 WCA – Consumer Credit Transactions as regarding variable rate loans
422.421 Variable Rate Transactions. (1) Definitions. (2) Variable Rate Transaction Permitted. (3) Approved Index Adjustments. (4) Other Adjustments. (5) Notice. (6) Maximum Rate. (7) Adjustment After Maturity Date. (8) Changes […]
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America’s Credit Unions : e-Guide – Truth in Lending (Reg. Z)
This links to America’s Credit Unions’ e-Guide section on Truth in Lending. (Note: Requires America’s Credit Unions login.)
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Reg. Z Adjustable Rate Mortgage (ARM) Application Sample Disclosure (12/2013)
See ii Release No. B030 – Adjustable Rate Mortgage Lending Programs.
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Reg. Z Adjustable Rate Mortgage (ARM) Application Sample Disclosure (12/2013)
See ii Release No. B030 – Adjustable Rate Mortgage Lending Programs.
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NCUA: Letter to Credit Unions No. 07-CU-09 – Statement on Subprime Mortgage Lending (July 2007) (encl) 30 pp.
Federal regulators describe safety and soundness and consumer protection standards that institutions should follow to ensure borrowers obtain loans they can afford to repay. In particular, the regulators are concerned […]
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NCUA: Letter to Credit Unions No. 05-CU-07 – Managing Risks Associated with Home Equity Lending (May 2005) & Enclosure: Interagency Credit Risk Management Guidance for Home Equity Lending
The federal regulators issued this guidance to promote sound risk management of open-end home equity lines of credit (HELOCs) and closed-end home equity loans. To access enclosure, click on blue […]
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CFPB: 12 CFR 1026.40
Truth in Lending (Reg. Z) – Open-End Credit 1026.40 Requirements for home equity plans.
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CFPB: 12 CFR 1026.20
Truth in Lending (Reg. Z) – Closed-End Credit 1026.20 Subsequent disclosure requirements. See (c) Variable-rate adjustments.