Final Rule for Disclosure Relating to the Acquisition of Legal Title to a Mortgage Loan

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BACKGROUND

On August 16, 2010, the Federal Reserve Board (“Board”) issued two proposed rules and three final rules governing federal Truth-in-Lending Act (“TILA”) requirements for residential mortgage loans. This Client Alert summarizes the Board’s final rule that requires a disclosure relating to the acquisition of legal title to a mortgage loan.

Later Client Alerts will address the Board’s remaining proposal and final rule.

Please see full alert below for more information.

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Morrison & Foerster LLP on:

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