Model ARM Notice

Posted By: complygirl

Model ARM Notice - 01/09/14 05:48 PM

New rules refer to model ARM notices, can someone provide a link to that notice or a regulatory citation on where that can be found? Wanting to verify content and format of our notices.
Posted By: GTS333

Re: Model ARM Notice - 01/09/14 06:18 PM

Wow. Okay, the regulation that controls the content is 12 CFR 1026.20(d) and 1026.20(c). Effective date for changes to the ARM notices is tomorrow 1/10/2014. Many of the posts in this forum are specific to the ARM changes, so look around to learn more.

You will also want to look at the model and sample forms provided by the CFPB for H-4(D)(1) through (D)(4). However, just copying the samples will not ensure compliance. There are also new timing requirements.

Good luck!
Posted By: complygirl

Re: Model ARM Notice - 01/09/14 08:39 PM

Yes, I am well aware the requirements go into affect tomorrow and also know there are timing requirement change associated with these notices as well. Our core processor generates our notices for us and I just want to verify content compared to the model/sample forms. Where specifically on the CFPB website can I find these forms? That is what I'm asking.
Posted By: GTS333

Re: Model ARM Notice - 01/09/14 08:41 PM

Got it, everything you want to know about the RESPA-TILA servicing rules can be found here: http://www.consumerfinance.gov/regulatio...ng-final-rules/

If you want to jump right to the samples, they are included at the end of the regulation part here: http://files.consumerfinance.gov/f/201301_cfpb_final-rule_servicing-tila-amendments.pdf
Posted By: complygirl

Re: Model ARM Notice - 01/09/14 09:18 PM

Thanks GTS333, the second link you provided had just the information I was looking for!
Posted By: rlcarey

Re: Model ARM Notice - 01/09/14 09:40 PM

Everything from the regulations can be obtained from clicking on "Read a Reg" at the top of this page also. A little easier than plowing through the Fed. Reg. release.
Posted By: Marnie

Re: Model ARM Notice - 01/09/14 10:45 PM

"Top" of what page, Randy?
Posted By: rlcarey

Re: Model ARM Notice - 01/09/14 11:04 PM

The top of the page you are looking at right now

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