Risk-based pricing notices could cut mortgage fees and interest rates
Posted on January 10th, 2010 by Carlo Capomazza
- Image via Wikipedia
Rules finalized by the Federal Trade Commission and the Federal Reserve will require lenders to alert loan applicants when a problem with their credit files might trigger excessive costs.
For mortgage applicants and home buyers, it's been a six-year wait, but the Federal Trade Commission and the Federal Reserve finally have come out with consumer credit protection rules first required by Congress in 2003.
- Report: 1 in 3 Loan Applications Denied (abcnews.go.com)
- The truth about all those excess reserves (economist.com)
- Barney Frank's financial bill guarantees $4 trillion to banks in next crisis (dvorak.org)
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_b.png?x-id=84362da4-ad4f-4c80-8e62-f1cd869e8b6c)
Filed under: Current Events, L.A. Times, LA Area, Real Estate Market, VRN
