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Home Mortgage Disclosure

Fed · final-rule · Published 2002-06-27 · Effective 2004-01-01 · 67 FR 43218

Document

Document number
02-16191
Federal Register citation
67 FR 43218
CFR reference
12 CFR 203
Type
Rule
Action
Final rule; staff interpretation.
Category
final-rule
Agency
US Federal Reserve System
Publication date
2002-06-27
Effective date
2004-01-01
Docket
Regulation C

Abstract

The Board is publishing amendments to Regulation C (Home Mortgage Disclosure). The amendments establish the thresholds for determining the loans for which financial institutions must report loan pricing data (the spread between the annual percentage rate on a loan and the yield on comparable Treasury securities) as required under a final rule approved in January 2002; the thresholds are a spread of 3 percentage points for first-lien loans and 5 percentage points for subordinate-lien loans. The amendments require lenders to report the lien status of a loan or application. The amendments also require that lenders ask applicants their ethnicity, race, and sex in applications taken by telephone; this monitoring requirement is made applicable as of January 1, 2003, through a rule published elsewhere in today's Federal Register.

Source

Authoritative
Federal Register document
Machine
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