What is the difference between the interest rate and the A.P.R.?

You’ll see an interest rate and an Annual Percentage Rate (APR) for each mortgage loan you see advertised. The easy answer to “why” is that federal law requires the lender to tell you both.  By showing both this can lead to confusion, especially to those First Time Homebuyers.

The Federal Reserve wants the APR to be a tool for comparing different loans, which will include different interest rates but also different points, fees, and other terms. The APR is designed to represent the “true cost of a loan” to the borrower, expressed in the form of a yearly rate. The problem is that there are many costs associated with a loan, that are not considered in APR.

What Fees Are Included In The APR?

• Loan Origination Fee
• Loan Discount Fee
• Other Lender/Broker Fees (Application, Underwriting, Processing, Tax Service Fee, etc.) – Anything paid to the broker or lender or affiliate of the broker or lender
• Odd Days Interest
• Mortgage Insurance Premium
• Title Closing Fee

While APR was designed as an attempt to make it easier to compare loans, it’s sometimes confusing because the APR includes some, but not all, of the  costs associated with a mortgage. And since the federal law that requires lenders to disclose the APR does not specifically declare what goes into the calculation, APR’s can vary from lender to lender and loan to loan.

What Fees Are Not Included In The APR Calculation

• Escrow Setup
• Appraisal Fee
• Title Insurance

Let’s Throw Adjustable Rate Mortgages In The Mix

The APR on an Adjustable Rate Mortgage (ARM), a loan tied to a financial index, like a 5/1 ARM, assumes the index will never change. The interest rate on an ARM is composed of the index and margin.  Because of the underlying assumption that the index will not move over the life of the loan, the APR can be grossly under or over stated on an ARM depending upon if the index moves up or down over the life of the mortgage.  ARM’s loans were created because the Bank does not have to assume the interest rate risk of a Fixed 30 Year Mortgage, allowing the consumer to get a slightly lower rate, and assume the risk that rates will rise.  These financial indexes have always moved over the course of a 30 year mortgage thus making the APR a difficult tool to compare a fixed rate mortgage to an ARM.

So, APR’s are at best inexact. The lesson is that APR can be a guide, but you need a mortgage professional to help you find the truly best loan for you.

Show What Should You Do?

You as a consumer need to look at two things when considering a mortgage loan

• The front end costs associated with obtaining the loan, not just those deemed pre-paid finance charges, and thus included in the APR calculation
• The interest rate, and the total cost of the loan over time.

Here is a Comparison of two different mortgages, both 30 year fixed rate mortgage.

The first mortgage has an APR of 5.03%, and the 2nd has an APR of 5.25%.  So, if you were to choose a loan simply based on the APR the typical choice would be the 1st mortgage; however, if you will be staying in the home less than 90 months (most loans are only held for 60 months) then the best choice is Loan 2, because the total cost is cheaper.

Make sure you are dealing with a mortgage professional that doesn’t just throw rates and fees at you over the phone. I’ll take the time to prepare a total cost illustration and determine that the loan you select meets your long term objective.

Related posts from Indiana's USDA Home Loan Expert:

1. The Good Faith Guarantee – What You Need to Know as a Borrower and a Realtor
2. Regulation Z Proposed Rule Would Mean More Cash to Close
3. Mortgage Tuneup

Give your mortgage an annual once over

If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over. New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.

Is a fixed rate mortgage the best choice for you?

Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage. If you anticipate selling your home within the next 10 years, an adjustable rate may be a better financial fit for you. Adjustable Rate loans typically have a lower fixed rate than a traditional 20 or 30 year mortgage. The savings you receive can well be worth switching to a adjustable rate loan.

Are you paying for Private Mortgage Insurance (PMI)?

There are loan programs available that can help you eliminate PMI, even if you have less than 20% equity in your home. The monthly savings adds up quickly. This money can be put to better use to help you achieve other short-term and long-term financial goals.

Are your taxes and insurance up to date?

Even though your mortgage servicer is responsible for paying your taxes and insurance out of your escrow account, it just makes sense to periodically check to see that these payments are being made properly. While you’re at it, you’ll want to review your homeowner’s insurance policy. It’s a good idea to review your policy every two to three years to make sure it covers recent home improvements, replacement costs for the contents of your home, and that its reconstruction coverage is keeping pace with inflation.

Do you have a Home Equity Line of Credit (HELOC) for emergencies?

Many homeowners are making the proactive choice to secure a Home Equity Line of Credit (HELOC) for emergencies. A HELOC is a revolving line of credit that only charges interest when you actually draw money from the line of credit. As you repay the balance of the draw, the credit becomes available again. Securing a HELOC in advance can be a great help if you’re ever laid off or have an unexpected medical or other emergency.

How’s your credit report?

The information in your credit report has a huge impact on whether or not you will again qualify for a mortgage loan. That’s why it’s important to periodically check your credit report.

Now it’s even easy to do so. A recent amendment to the federal Fair Credit Reporting Act (FCRA) mandates that each credit reporting company provide you with a free copy of your credit report, at your request, once a year. To request your free credit report, visit http://www.annualcreditreport.com.

Are you making the most of your home’s equity?

While home prices have not been increasing in the last few years, regular monthly payments reduce the amount of your mortgage balance, thus increasing the amount of equity in your home than you realize. Taking out a home equity loan to payoff credit card debt, car loans and other higher interest debts makes good financial sense.  Ric Edelman, explains 10 Reasons to Carry a Big Long Term Mortgage.

Is it time to refinance?

The timing might be right to refinance your mortgage loan. New rates may help you significantly lower your monthly payment. Or you might want to “cash out” some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation – whatever! Perhaps by refinancing you can even pay off your mortgage sooner!

I’ll work with you to determine if the timing is right to change your loan program, considering your cash on hand, how likely you are to sell your home in the near future, and what effect refinancing might have on your future plans.

Related posts from Indiana's USDA Home Loan Expert:

1. How Much Can I Afford
2. Using a USDA Loan to Purchase a Home After a Foreclosure
3. What Goes On At Loan Closing

Author and credit scoring expert Linda Ferrari shares 5 simple things you can do to help raise your credit scores quickly.

www.youtube.com/watch?v=CQyK0vWMYHQ

If you can’t view the above video, click to learn the 5 things to increase your credit score

Related posts from Indiana's USDA Home Loan Expert:

1. What’s a Credit Score Got to Do With It?
2. Achieving a Goal Credit Score
3. Who’s Your Accomplice on Your Path to Homeownership?

“A penny saved is a penny earned”… or so the old proverb goes. Of course, the value of a penny has changed somewhat from the time when your grandfather offered his wisdom on the value of keeping what you earn. Today, you could save thousands of dollars by simply making the right mortgage decision. If you haven’t taken advantage of the historically low interest rates you are leaving huge savings in the pockets of a banker.

Your mortgage is one of your most significant financial decisions. Making the right decision regarding your mortgage can have a huge impact!

It is my primary role as a mortgage broker to find you the right product for your personal situation. A mortgage broker is a financial professional and – like your investment advisor – I want to understand your personal situation and payment preferences. I have access to many lending institutions, so you can do some valuable comparison shopping for the right combination of features, rates and mortgage options.

All these choices offer you substantial opportunities to save money over the life of your mortgage.

If you are like most homeowners, you are focused -for good reason – on finding the best possible rate for your mortgage. A mortgage broker can offer you the best range of rate options and terms. If a mortgage broker can get you a half per-cent (1/2%) off the posted rate, that could mean a savings of more than $17,000 in interest per $150,000 borrowed over a 30 year term. If, however, you believe that most mortgage rates are basically the same from one institution to the next, then consider the fact that even an eighth of a point difference in the rate can offer significant savings over the duration of your mortgage.

But it’s also important to look beyond the rate. There are other ways to find savings in your mortgage. I am up-to-date on market trends and new opportunities… as well as some of the tried-and-true ways to save money in a mortgage.

Do you get an annual bonus in your job? You may want to use that bonus to pay down the principal of your mortgage. If you pursue this strategy consistently over the life of your mortgage, you could save thousands of dollars in interest by paying your mortgage off sooner.  However, sometimes, it makes more sense to save this money is a safe side account, that you could utilize to pay down your mortgage, or as an emergency cushion.

Are you paid bi-weekly or bi-monthly? Consider a change from the usual monthly mortgage payment. Set up your mortgage payment schedule to coincide with your pay period. Again, you can shave years off your mortgage, and enjoy thousands of dollars in savings.  You can accomplish the same thing through just making one extra payment per year as well.

Consider the old penny proverb again. How much is your time worth? Time savings is one of the key, unexpected benefits that clients say they have enjoyed when they choose to work with a me. Above all, I’m an expert in customer service, and that means that I look after every detail of your mortgage research and negotiations on your behalf.

Related posts from Indiana's USDA Home Loan Expert:

1. What Goes On At Loan Closing
2. Mortgage Tuneup
3. The Benefits of a USDA Guaranteed Loan to Purchase

The Department of Housing and Urban Development (HUD) under RESPA revised the Good Faith Estimate, HUD-1, and HUD-1A through regulation adopted in 2008 which became effective January 01, 2010. The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, passed in 1974. The purpose of the act is to help consumers become better shoppers for settlement services and to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services. RESPA covers loans secured with a mortgage placed on a one-to-four family residential property.These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. RESPA requires borrowers to receive disclosures at various times.  A Good Faith Estimate is required to be delivered within three (3) days of giving six required items:

1. Name
2. Social Security Number
3. Monthly Income
4. Property Address
5. Property Value (Estimate)
6. Loan Amount

Fees disclosed on the new Good Faith Estimate are grouped into three categories:

• Fees that cannot increase from the initial estimate to closing
• Fees that may vary as much as 10 percent from the initial estimate to closing
• Fees that may increase without limit, because the lender has no control over them or may be difficult to predict in advance.

Fees in the no tolerance group:  lender fees, mortgage broker fees, processing, underwriting, and discount points.

Fees in the 10% variance group:  appraisal, recording fees, credit report, flood certification, tax service, mortgage insurance, and guarantee fee.  Title closing and title insurance are included in this group when selected from a provided list by the borrower.  Any single fee could vary by more than 10%, the combined total of the fees in this group may not increase by more than 10%.

Fees in the unlimited increase group:  homeowner’s insurance, per diem interest, and setting up the initial escrow account.  Title closing, and title insurance are included in this group when they are not selected from a list provided by the lender.

The New Good Faith Estimate – The Positive:

As a customer you have a minimum of 10 days to shop for various settlement services.  The Good Faith Estimate is now lo longer an “Estimate” but an Etched in Granite Guarantee of Fees charged by the Mortgage Broker and Lender.   This very fact will eliminate any companies still that would attempt to bait and switch consumers by offering low fees, and then increasing at closing.  The format of the new Good Faith Estimate may not be modified from the version prescribed by HUD, this will make it easier for consumers to compare GFE’s from one lender to another.

The New Good Faith Estimate – The Neutral Items:

The overall costs for closing a loan have not decreased, and none of the items have went away, and no new items have been added because of the new Good Faith Estimate.  The borrower will be asked to provide a commitment to the loan and to moving forward prior to locking in the rate and terms.  If the borrower does not provide their commitment to moving forward with the loan by the end of the shopping term, minimum 10 days, then the lender no longer has to honor the terms.  If the terms do happen to change during the process then this will trigger another 10 day grace period.A very important part for the customer to pay attention to is how long the interest rate being offered is good through.  Because of MDIA (Mortgage Disclosure Improvement Act of 2009) the APR at closing cannot be off by more than 1/8%, if it is it must be re-disclosed and have a 3 day waiting period.  So, the interest rate will need to be locked in at least 5 days prior to closing with most investors requiring 10 days.  Interest rates are very fluid so guaranteeing an interest rate for any lenght of time is very difficult, since the interest rate could change.

The New Good Faith Estimate – The Stuff that was forgotten:

The Lender and Broker are responsible for the accuracy of fees that are typically paid for by the seller, ie. Owners Title Policy.  A seller’s closing cost concession is not shown on the new Good Faith Estimate.  The proration of taxes is not shown.  Proration of taxes is a credit given to the buyer, when taxes are paid one year after assessment, since the new buyer’s first bill would be for a time period when they were not living in the property.

The two most important pieces information everyone wants to know when purchasing a home:

• What is my total monthly payment.  The Principal, Interest and Mortgage Insurance is included, but not the Taxes and Insurance.  Sure everyone can just add the cost, but wouldn’t it make more sense to just include the total payment, it was on the old Good Faith Estimate.  With a USDA Home Loan you don’t have to worry about the added expense of mortgage insurance.
• How much money will I need to close.  If your using a USDA Home Loan this doesn’t become as much of an issue, but still something you want to know.

Related posts from Indiana's USDA Home Loan Expert:

1. What Goes On At Loan Closing
2. There’s an Escrow for That
3. The Tax Man Cometh: As A Homeowner You Can Give A Lot Less

There was no strong data indicating a reason to believe in an economic recovery in 2010, and mortgage rates ended a little better last week.

Construction Spending for November fell -0.6% worse than expected, continuing to support the notion that any real growth is still a long ways off.

Factory Orders came in at 1.1% increase, double the expectation, and greater than the October reading of 0.6.  The durable goods portion was relatively flat, with just a slight decrease from October.

Minutes from last FOMC meeting showed an uneasy feeling of when the purchasing of Mortgage backed securities should end.  The purchasing of mortgage backed securities by the Fed has been largely attributed with keeping mortgage interest rates low.  The report did maintain that inflation is still tame, and the recovery will be gradual.

Initial Jobless claims showed an increase of 1,000 to 434,000, which was less than expected.

Decembers Unemployment Rate came in at 10%; however, November was revised to show a gain of 4,000.  The pace of people no longer counted in the unemployment rate is growing steadily.  The continued weakness in employment is giving people hope that the Fed will not increase interest rates soon.

Today is the only day this week without any economic news scheduled for release.  The most important data doesn’t report until Thursday.

The U.S. trade balance reports on Tuesday with an expected deficit of $34.8 billion for November from $32.9 billion in October.  Don’t expect this number to cause much fan fare.

The Federal Reserve’s Beige book, details economic conditions throughout the U.S by region, will be posted on Wednesday.  The Fed puts a lot of weight on the findings during it’s FOMC meetings.  Any unexpected news will have a large impact on the financial market and mortgage rates.

There is a Treasury auction scheduled for Wednesday and Thursday.  If the auctions are met with strong demand we could see a slight improvement in mortgage rates.  I see investors appetite for long-term US securities waning, which will lead to slightly higher rates.

December retail sales will be released on Thursday the expectation is 0.4%, versus the 1.3% gain in November.  Strong retail sales growth is important to an economic recovery, thus better than expected numbers will lead to pressure on Treasuries that would probably carry over to mortgage rates. Initial jobless claims for the week of January 09 will be released on Thursday.  The estimate is for a 430,000 new claims.

Consumer Price Index (CPI) from December reports on Friday, estimates are for a 0.2% increase versus 0.4% in November.  The Core CPI, eliminating food and energy from CPI, is expected to rise 0.1% from 0% in November.

Related posts from Indiana's USDA Home Loan Expert:

1. Is the Housing Market on the Way Back Up?
2. The Good Faith Guarantee – What You Need to Know as a Borrower and a Realtor
3. Increase Your Credit Score in 30 Days

A rate lock is a promise to hold an interest rate and discount points for you for a specified period of time while your loan application is underwritten. Locking in your rate guarantees the rate as long as your loan closes and funds before the rate lock expires, preventing you from going through your whole process and finding out the interest rate has gone up.

A rate lock period can vary in length, and longer ones usually cost more. Typical rate lock time frames are 15, 30, 45, and 60 days.  Most investors will only allow a 15 day rate lock if the loan is already approved.  A lender will agree to “hold” your interest rate and discount for a longer period, say 60 days, but they’ll want a free item from your first garage sale, and pick of the litter if your dog ever has puppies, actually the rate and maybe discount (cost) is higher than with a shorter rate lock period.

There are three things you can do to get a lower interest rate:

1. A larger down payment will result in a lower interest rate, because you’ll have a lower Loan to Value.
2. You can pay discount points to lower your rate over the life of the loan, but that means you pay more up front. For many people, this makes sense and is a good deal.
3. Increase your credit score.

With a purchase you will want to review the purchase contract to help determine the right lock length based on the estimate closing date on the purchase agreement.

The most important thing for you to do is to work with a competent and qualified mortgage broker.

Related posts from Indiana's USDA Home Loan Expert:

1. Understanding Rate Locks
2. The Good Faith Guarantee – What You Need to Know as a Borrower and a Realtor
3. Boost Your Credit Score to Get the Best Rate

Last week was pretty ugly for mortgage rates with positive economic data, and not so strong demand for all of the government’s treasury auctions.

Case-Shiller HPI for October declined 7.3% for the 20 city index, slightly better than estimates. Overall the number was described as flat with only 7 of the 20 cities showing a month-to-month increase. This is about 9 months of improving numbers, the fear is that this may begin a second decrease in the index; with the current consistent Fed policy this is not something to worry about.

Consumer Confidence for December, came in at 52.9, just slightly below the expectations of 53. The economy is considered to be on solid ground with a reading of 90, not contracting or expanding, 100 would indicate economic growth.

Chicago PMI (Purchasing Managers Index) for December, came in at 60, considerably higher than the estimate of 55, and November’s 56.1. Reinforcing the fact that we are starting to see some growth.

Jobless Claims for the week of 12/26 fell to 432,000 much better than the estimate of 460,000, which would have been an increase. This is the lowest weekly number since July 2008. The increasing employment points to an improving economy, and inflation.

Monday we have the ISM Index (Institute for Supply Management), estimates call for 54.0, which would be an increase from November of 53.6. The slight increase called for in the forecast are probably not enough to move the market. The higher the number the worse for mortgage rates, as it shows the manufacturing sector strengthening.

Construction Spending for November, estimates call for a -0.5%, worse the flat reading in October. No real weight will be put into this number until we see some strong growth, even then the number is not considered to have much impact on the market.

Tuesday kicks off with Factory Orders expected to increase by 0.5%, less than Octobers 0.6%. Not much to see here unless we see a large revision to durable goods portion.

Wednesday we will have the release of the minutes from the last FOMC meeting. This will give us a glimpse into the Fed’s thoughts on inflations and monetary policy.

Thursday will bring the initial Jobless claim, estimates call from 445,000. A fear is that the Holiday’s and weather may have skewed the numbers, meaning the number should have been worse than reported. The market has been extremely focused on this number as of late. If the number is lower it will put some pressure on Treasuries, but the traders could wait for Friday’s full report for December.

Friday will bring the release of December’s Unemployment Rate, forecasts call from a rise to 10.1%. If we see a worse number this will move the market, and cause better mortgage rates.

If we get as analysts expect to a net job gain of zero, we would have a strong psychological effect causing the stock market to risk and mortgage market to get worse.

Keep in mind positive economic data generally causes money to flow from Bonds and into Stocks, causing Bonds and home loan rates to worsen, and negative economic data will have the opposite result.

With the economy starting to show signs of expanding, don’t expect mortgage rates to stay low for long.  For your personalize rate quote just complete the box to the right.

Related posts from Indiana's USDA Home Loan Expert:

1. Is the Housing Market on the Way Back Up?
2. Employment: It Plays a Big Role in Mortgage Rates
3. Regulation Z Proposed Rule Would Mean More Cash to Close

This last week ended up being more of a ride than initially expected. The 10 year treasury closed at a four year high of 3.8%.

The final revision of 3rd quarter GDP was revised down to 2.2% from 2.8% from the 1st revision. This number was actually worse than expected so there was a slight improvement in mortgage rates.

Existing Home sales rose to 7.4% for an annual rate of 6.54 million units. Obviously, a large portion of this increase can be attributed to First Time Homebuyers wanting to take advantage of the tax credit, since it was originally scheduled to end in November.

Personal Income rose 0.4% the best since April, spending rose 0.2%, less than the increase seen in October. The lackluster report helped reassure bond traders that inflation is still a ways off.

University of Michigan’s Final consumer Sentiment fell to 72.5 from 73.4 two weeks earlier, although it did rise during the month, from November’s 67.4. This is 22% above last December. Much of the gain can be attributed to consumer’s opinion of the economy in general as compared to their own finances.

This week brings another shortened holiday week for trading. Trading volume is likely to be extremely low this final week of the year, which could lead to wild swings if any data points to large variances over what was predicted. While the economic data scheduled for release this week is fairly light, there are treasury auctions which can show general demand for bonds.

The first report comes out on Tuesday is Case-Shiller HPI (Home Price Index) for October. This generally has very little effect. It is expected to show home prices declined 7.45%, which is far better than the 9.36% decline reported in September. Keep in mind this index is only for the 20 largest metropolitan areas, so Indianapolis is not included.

Then the Consumer Confidence for December, the estimate calls for 53, last month gave us a reading of 49.5. If the value comes in above 54, look for a slight move in the market. The move in treasuries would be caused by consumers spending more which would help move the economy out of its slump.

Wednesday brings us the Chicago PMI (Purchasing Managers Index) for December. This typically has very little market moving value; however, it is sometimes looked at as preview of what will come from the ISM Manufacturing survey (Institute for Supply Management Manufacturing Survey). With this being the last week of the year, and a shortened trading session, this report could potentially move the market. The estimate calls for a report of 55, with last months coming in at 56.1. Market equilibrium is based off a reading of 50, so anything above 50 shows the market expanding. An item to keep a close watch on is the one two punch of Healthcare Reform (very likely to pass shortly) and Cap and Trade, which could prolong the recession or even deepen it for the next ten years.

The biggest market mover is to be released on Thursday Jobless Claims for the week of 12/26. The estimate calls for new claims to reach 460,000, where it was 452,000 during last release. The bigger item will be release next Friday, aggregating the data for the month of December.

Related posts from Indiana's USDA Home Loan Expert:

1. Housing Forecast
2. Regulation Z Proposed Rule Would Mean More Cash to Close
3. Is the Housing Market on the Way Back Up?

The proposed rule revising Regulation Z, specifically Docket Number R-1366, by the Federal Reserve Board would increase the amount of money consumers would need to bring to closing. This increase in cash to close comes from the elimination of Yield Spread Premium, which has long been used to help cover consumers closings costs, or offset the origination fee.  The new Good Faith Estimate going into effect January 01, 2010 requires that all Yield Spread Premium be given as a credit to the consumers origination costs.

The comment period for the Proposed Rule is available until December 24, 2009.  It is urgent that your voice be heard.  You can read the 191 pages describing the proposed rule in the Federal Register at: http://edocket.access.gpo.gov/2009/pdf/E9-18119.pdf

• Eliminates No-Cost Loans. Consumers who already own a home will no longer be able to do No cost or no fee loans.  This is significant because many consumers do not have adequate equity in their house, or cash for closing costs.  This will prevent consumers from realizing the savings from lower interest rates.
• Less Flexibility.  Yield Spread Premium allows for loans to be structured in the best way to benefit the consumer.
• More Cash Will be Needed. Consumers will no longer be able to have a portion of their closing costs paid on purchase through the use of Yield Spread Premium.  Thus more consumers will need to wait longer, or forgo altogether, the dream of homeownership, simply from not having enough money for the down payment and closing costs.  For those eligible a USDA Home Loan could potentially solve both the down payment and closing cost problem.
• Eliminates Competition. The proposed rule will cause a damage to mortgage brokers, and likely result in a further reduction in the number of mortgage brokers, which would ultimately lead to higher costs through less competition.

How your Voice can be heard on the Proposed Rule revising Regulation Z:

› Web Site: http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm Scroll down to Regulation Z – Truth in Lending – Closed-end Mortgage [R-1366], click on Submit comment on this proposal

› Federal eRulemaking Portal: Change the Select Document Type to Proposed Rule, enter keyword “R-1366″, click Search, Click on the Submit a comment balloon on far right hand side of results, the ID is:  FRS-2009-0240-0001

› E-mail: regs.comments@federalreserve.gov Include the docket number:  ”Docket Number R-1366″ in the subject line of the message.

› Fax: 202-452-3819 or 202-452-3102

› Mail: Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, and Constitution Avenue, N.W., Washington, DC 20551

The Easiest way to comment online: http://www.federalreserve.gov/generalinfo/foia/ElectronicCommentForm.cfm?doc_id=R-1366&doc_ver=1&name=Regulation%20Z%20-%20Truth%20in%20Lending%20-%20Closed-end%20Mortgages&date=20090723a

All public comments are available at the Boards web site at:  http://www.federalreserve.gov/generalinfo/foia/index.cfm?doc_id=R-1366&doc_ver=1 as submitted, unless modified for technical reasons.  This means that the information you submit, including identifying information and contact information will be visible.

I sent in my comments and a proposal. Will you do the same?

Related posts from Indiana's USDA Home Loan Expert:

1. The Good Faith Guarantee – What You Need to Know as a Borrower and a Realtor
2. HUD Settlement Costs Booklet – Revised for 2010
3. What Goes On At Loan Closing