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Home » Store » News » Lenders Want More Time to Deal With Parity Act Changes; ‘Chaos’ Feared on New Year’s Day

Lenders Want More Time to Deal With Parity Act Changes; ‘Chaos’ Feared on New Year’s Day

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Mortgage lenders are asking the Office of Thrift Supervision to delay the implementation of its revised rule on the federal preemption of state laws on mortgage prepayment penalties and late fees. The OTS may have caught the industry off guard back in September when it finalized an April proposal that removes prepayment penalties and late fees from the list
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