From the Wall Street Journal: (link)
The Fed is also proposing that lenders provide clearer information on how borrower payments might change under ARMs. And it wants to revise how the annual percentage rate, or APR, is calculated in disclosures to reflect several routine costs that are passed on from the lender to the borrower, such as title insurance.
You can find the full proposal on the Federal Reserve’s web site.
How this will mesh with HUD’s new RESPA guidlines and the proposed CFPA is anyone’s guess.
