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:

Consumer Handbook on Adjustable-Rate Mortgages (CHARM) #11508 - REV. 8/2011
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.

What You Should Know About Home Equity Lines of Credit #11527  - REV. 8/2011
The Federal Reserve Board brochure or comparable substitute describing home equity credit plans, including potential advantages and disadvantages must be provided with the first set of disclosures.

Note: The Settlement Costs Booklet HUD GUIDE #11513 hasn’t changed and still has 7/10 revision date.

Contact FIPCO at 800/722-3498 option 1 or FIPCO Sales, to order your booklets online click here.