Federal Reserve Issues Rule Changes for Home Equity Lines of Credit Closed-End Mortgages
by admin ~ July 21st, 2009.
Last week, the Federal Reserve announced they would issuing a new proposal this week under its Truth in Lending Authority that would provide for re-designed disclosures and rule changes for closed-end first and second mortgages and home equity lines of credit (HELOCs), Fed Governor Elizabeth Duke wrote in prepared comments for her testimony scheduled this [...]
Federal Reserve Issues Rule Changes for Home Equity Lines of Credit Closed-End Mortgages
Category: Home Equity News, Mortgage News, Mortgage Rate News | Tags: closed-end mortgages, disclosures, HELOCs, home equity lines of credit, Real Estate Settlement Procedures Act, rule changes, second mortgages, Truth in Lending Act
February 8th, 2010 at 9:19 pm
I enjoy reading your home financing posts and many of our loan officers subscibe to your news feed. Home Equity Wholesale is one of the last home equity lenders still offering consumers credit with second mortgages and home equity credit lines. We are lo0oking forward to the next wave of refinancing as home values start to recover in many areas around the country. We get about 40 inquiries a day of homeowners who are trying to refinance their credit line, but they have been turned down by their second mortgage lender. Please send any people you know our way who would benefit from our home equity services. Thanks again for the news and commentary. – Tammy Davis, Loan Mgr. Home Equity Wholesale