Revised Mortgage Booklets Now Available
Regulatory changes are significantly impacting mortgage lending practices, and RESPA requirements are changing the forms that document mortgage loans and the mandatory government booklets that must accompany your loans. FIPCO can supply the booklets you need to remain in compliance with various regulations regarding information that must be provided to your borrowers. New revisions are now in stock for the following mortgage booklets:
(11508) CHARM BOOKLET - Consumer Handbook on Adjustable Rate Mortgages - REV. 3/12
For variable rate closed-end consumer credit, with a maturity greater than one year, secured by the consumer’s principal dwelling (Covered Loans), certain disclosures must be provided at the time an application form is provided, or before payment of a nonrefundable fee, whichever is earlier. Disclosures include loan program disclosures and a CHARM booklet.
(11513) CFPB's Settlement Costs Booklet - REV. 1/12
Outlines the fees involved in home purchase settlement, including mortgage and lender fees, and charges for establishing and transferring ownership. Provides information on settlement cost estimates and includes a settlement cost worksheet.
(11527) HELOC Booklet - Home Equity Lines of Credit - What You Should Know About
Information on home equity lines of credit; includes a glossary of terms and a checklist to use in shopping for a plan.
Changes are not mandatory and affect only the Resources within the booklets.
Contact FIPCO at 800/722-3498 option 1 or FIPCO Sales, or to order your booklets online click here.