Mortgage Law Blog, LLC

Mortgage Law Blog reminds readers that the Mortgage Bankers Association will hold its annual Regulatory Compliance Conference September 14 - 16, 2008. 

The conference will be held at the JW Marriott in Washington, DC.

The MBA’s website describes the conference as the “the premier forum for you to attain the most comprehensive, up-to-date information on significant regulatory and compliance issues facing the mortgage banking industry at the federal and state levels.”

The conference includes “an in-depth discussion of the Housing and Economic Recovery Act of 2008, the most sweeping real estate finance and housing legislation in a generation. Attendees of this conference learn about the contents of this law, how its provisions will be implemented and what changes your business needs to make to comply with the new regulations.”

Speakers will cover a variety of topics, including:

• Home Owners Equity Protection Act/Truth in lending Act
• Real Estate Settlement Procedures Act
• Anti-predatory lending requirements
• Home Mortgage Disclosure Act/Fair lending
• Fair Credit Reporting Act/Fair and Accurate Credit Transactions Act
• Federal Housing Administration loans
• Mortgage fraud against lenders
• Servicing
• Secondary market issues

There will also be legislative and litigation updates. 

The final day will include a visit to Capitol Hill to meet with legislators.

To learn more, visit the conference website here.

Tags: Association Activities, Conferences & Events, Consumer Protection, Economic Stimulus, FACT Act, FCRA, FHA Insurance, Fair Lending, Foreclosure, Fraud, HUD & FHA, High Cost Loans, Industry Involvement, Legislation, Loan Servicing, Lobbying, Mortgage Banking - General, RESPA, Regulations, State Regulation, Unfair or Deceptive Acts by the Editor
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On May 19, 2008, the Board of Governors of the Federal Reserve and the Federal Trade Commission jointly issued proposed rules designed to implement the risk-based pricing provisions in section 311 of the Fair and Accurate Credit Transactions Act of 2003.  See 73 Fed. Reg. 28,966.

The proposal included model forms that creditors could use to comply with the requirements of the proposed rules. 

Mortgage Law Blog previously posted notice of the proposal.

The agencies have issued a technical correction to the proposal, stating:

Due to a technical error, the second page of Model form H-4 of the Board’s proposal and Model form B-4 of the Commission’s proposal, as published, erroneously included a row entitled “Key factors that adversely affected your credit score.” As discussed in the preamble to the proposed rules, the notice provided in connection with the credit score disclosure exception for non-mortgage credit is not required to include the key factors that affected the credit score (73 FR 28983).  This document corrects this error by amending Model forms H-4 and B-4 to delete this row.

For a full copy of the Federal Register notice containing the correction, please click here.

Comments remain due August 18, 2008.

Tags: Consumer Protection, Consumer Reports/Credit Reports, FACT Act, FCRA, Federal Reserve, Federal Trade Commission, Mortgage Banking - General, Regulations, Risk-Based Pricing, Unfair or Deceptive Acts by the Editor
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