Search results
Results from the WOW.Com Content Network
The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Donate
In September 1994, President Bill Clinton signed into law the Home Ownership and Equity Protection Act of 1994, written by US Rep. Joseph P. Kennedy (D-Mass). The law requires certain disclosures and clamps restrictions on lenders of high-cost loans.
Introduced in the House as "Financial Institutions Reform, Recovery and Enforcement Act of 1989" H.R. 1278 by Henry B. Gonzalez (D-TX) on March 6, 1989; Committee consideration by House Banking, Finance, and Urban Affairs, House Government Operations, House Judiciary, House Rules, House Ways and Means
This section also defined a "Qualified Mortgage" as any residential mortgage loan that the regular periodic payments for the loan does not increase the principal balance or allow the consumer to defer repayment of principal (with some exceptions), and has points and fees being less than 3% of the loan amount.
Truth in Lending Act; Long title: An Act to safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by restricting the garnishment of wages; and by creating the National Commission on Consumer Finance to study and make recommendations on the need for ...
Section 4 of FERA restates part of the False Claims Act, to "reflect the original intent of the law". This amendment is in reaction to the Supreme Court's 2008 decision in Allison Engine Co. v. United States ex rel. Sanders , in which the Court held that the mere involvement of Federal money was insufficient to bring a fraudulent claim or ...
The Federal Reserve System headquarters in Washington, D.C. The Bank of England in London The Reserve Bank of New Zealand in Wellington. In public finance, a lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other ...