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Interim Guidance Sought on TILA Provision in New Foreclosure Law
A coalition of financial services and securities industry groups has asked the Federal Reserve Board for temporary guidance regarding a provision in the recently enacted Helping Families Save Their Homes Act of 2009 that may cost them plenty even for an unintentional violation. The Truth in Lending Act provision, Section 404, requires the new owner or an assignee of a mortgage to...
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