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Article: Wolters Kluwer Financial Services Ready to Help Financial Institutions Comply With HOEPA and Regulation Z Changes.
- Article from:
- Real Estate Business Journal
- Article date:
- May 23, 2009
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Wolters Kluwer Financial Services announced the company can help financial institutions begin preparing to meet the Federal Reserve Board's (FRB's) new Regulation Z requirements that take effect on Oct. 1, 2009. The changes will require institutions to comply with several Home Ownership and Equity Protection Act (HOEPA) requirements tied to a new class of mortgages the FRB identifies as "higher-priced."
"The sooner lenders can prepare themselves for these new requirements the better," said Kurt Sames, vice president and general manager of Consumer Compliance at Wolters Kluwer Financial Services. "In light of the current financial crisis, they can be certain ...