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July 29
W-9, W-8BEN and W-8 BENE: IRS issues new forms and new rules;
Deborah Crawford

July 31
ACH Security Framework Rule - Small Rule, Big Implications;
Rayleen Pirnie

August 6
Part I
Flood Insurance: Requirements and Best Practices
A Two-Part Companion Webinar Series;
David Dickinson and Jerod Moyer

August 12
A to Z of Reg E;
Andy Zavoina

August 13
Part II
Flood Insurance: Requirements and Best Practices
A Two-Part Companion Webinar Series;
David Dickinson and Jerod Moyer



Topic Options
#1299700 - 12/07/09 08:08 AM CHARM Booklet
Mainiac Offline
100 Club

Registered: 11/25/05
Posts: 147
What is the currtent version of the CHARM Booklet we are supposed to be using? It appears there is an August 2009 version on the FRB website, but I don't remember any communication that we had to use this version as of some date.

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Lending Compliance
#1301157 - 12/08/09 03:04 PM Re: CHARM Booklet [Re: Mainiac]
2old2care Offline
Platinum Poster

Registered: 10/16/06
Posts: 616
I contacted the FRB regarding the CHARM Booklet.


Publications Fulfillment has been advised of only one brochure needing to be updated by January 2010. That brochure is the settlements costs brochure, which must include new RESPA guidelines/information by January 1, 2010.

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#1301311 - 12/08/09 04:40 PM Re: CHARM Booklet [Re: 2old2care]
Mainiac Offline
100 Club

Registered: 11/25/05
Posts: 147
Thanks

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#1302143 - 12/09/09 04:12 PM Re: CHARM Booklet [Re: Mainiac]
biz Offline
Platinum Poster

Registered: 11/07/05
Posts: 994
Loc: Midwest
I must be a doofus-but/so is the August 2009 booklet the one we should be using, as ours is dated in 2006? Or are we ok in using the 2006 supply?

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#1302179 - 12/09/09 04:35 PM Re: CHARM Booklet [Re: biz]
Reads Regs Offline
Diamond Poster

Registered: 11/15/04
Posts: 2005
The FRB never issued a press release indicating that they made this 8/2009 update to the CHARM booklet. In the past, when substantive changes were made to the booklet they would issue a press release announcing the new version of the booklet and they would tell you that you could exhaust your existing supply and then order the new booklet.

Keep in mind that the 8/26/09 Reg. Z proposed rule for closed-end credit is proposing to eliminate the CHARM booklet altogether and replace it with a one page disclosure that discusses fixed versus variable rate loans. If you have enough of your 2006 booklets, I would continue to use them.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1302199 - 12/09/09 04:47 PM Re: CHARM Booklet [Re: Reads Regs]
Gotwood Offline
Platinum Poster

Registered: 05/22/01
Posts: 696
the august 9, 2009 date is the date the website was updated, there is no reference to the charm book changing.

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