Consumer Handbook on Adjustable Rate Mortgages (2196BFN)
Product Description
New Consumer Handbook on Adjustable Rate Mortgages. Used to explain the adjustable rate mortgages(ARMS), provide an overview of various types of ARMs, and list resources to obtain more information.
CHARM Booklet BF (2196BFN)
The CHARM Booklet, also known as The Consumer Handbook on Adjustable Rate Mortgages, is published by the Federal Reserve and explains the basic features of adjustable rate mortgages (ARMs), discusses various types of ARMs and provides several resources.
This item is the 0114 version.(Available 3-15-14)
(1) Removing references to certain fees and product types that are no longer permitted, such as prepayment penalties on adjustable -rate mortgages.
(2) adding information about the lender's obligation to consider the borrower's ability to repay the loan, provide disclosure of interest rate adjustments, and ensure a borrower has received homeownership counseling before making a negative amortization loan; and
(3) adding CFPB contact information and resources for consumers and updates to other federal agency contact information. It also adds CFPB resources for consumers including information about how consumers can submit a complaint to the Bureau, a link to the Bureau's online "Ask CFPB" tool to find answers to questions about mortgages and other financial topics, and a link to an online tool to find local HUD-approved housing counseling agencies.
Details:
3 7/8" x 8 1/2" fits in #10 envelope
Imprint area 3 7/8" x 2
24-page booklet
CHARM Booklet BF (2196BFN)
The CHARM Booklet, also known as The Consumer Handbook on Adjustable Rate Mortgages, is published by the Federal Reserve and explains the basic features of adjustable rate mortgages (ARMs), discusses various types of ARMs and provides several resources.
This item is the 0114 version.(Available 3-15-14)
(1) Removing references to certain fees and product types that are no longer permitted, such as prepayment penalties on adjustable -rate mortgages.
(2) adding information about the lender's obligation to consider the borrower's ability to repay the loan, provide disclosure of interest rate adjustments, and ensure a borrower has received homeownership counseling before making a negative amortization loan; and
(3) adding CFPB contact information and resources for consumers and updates to other federal agency contact information. It also adds CFPB resources for consumers including information about how consumers can submit a complaint to the Bureau, a link to the Bureau's online "Ask CFPB" tool to find answers to questions about mortgages and other financial topics, and a link to an online tool to find local HUD-approved housing counseling agencies.
Details:
3 7/8" x 8 1/2" fits in #10 envelope
Imprint area 3 7/8" x 2
24-page booklet
