Fed Issues Interim Rule on Mortgage Purchases; GSEs Have Taken on Responsibility Directly
November 24, 2009
The Federal Reserve Board last week issued an interim rule designed to help the mortgage industry comply with new disclosure requirements that have been in effect for several months, although all of the burden falls on the secondary market. The Helping Families Save Their Homes Act, which became law on May 20, 2009, included an amendment to the Truth in Lending Act that...