Sentences with phrase «revised disclosures»

Before this amendment, the rule would have required creditors to provide revised disclosures on the same day the borrower opted to lock a floating interest rate.

The amended rule requires creditors to issue revised disclosures within three business days of a borrower's election to lock a floating interest rate.

If charges change significantly, the proposed rule requires revised disclosures and another three business - day waiting period before closing.

The NYC CFB issued revised disclosure rules for electioneering communications, offering some concessions for labor unions and nonprofits.

Ally Invest may at any time revise these Disclosures.

Further, the Bureau does not believe it is necessary to state that disclosures on the Closing Disclosure are estimates when they are based on the best information reasonably available, because the final rule requires that consumers receive revised disclosures with the actual terms if information changes that would have made a previous disclosure inaccurate.

These minor «tweaks» to the rule address the requirement for providing revised disclosures when a consumer locks a floating interest rate, additional spacing for language regarding construction loans that may take more than 60 days to settle, the provision for the placement of the NMLSR ID on the disclosures, and other non-substantive corrections such as minor wording changes and regulatory clarifications.

Creditors are currently required to issue a revised Good Faith Estimate (GFE) within three days of locking a floating interest rate, so this amendment provides consistency with current requirements for providing revised disclosures.

With credit card penalty rates and fees now common, the Federal Reserve has begun efforts to revise disclosures to better inform consumers of these costs.

The amended rule provides that the placement of such language regarding a revised disclosure included under the master heading «Additional Information About This Loan» and the heading «Other Considerations» would satisfy the «clear and conspicuous» standard.

However, the amended rule recognizes the logistical difficulties a same - day requirement would present to creditors, including possible restrictions as to when a borrower would be able to lock a loan so as to allow sufficient time in the day to provide revised disclosures.

The existing rule allows creditors to issue a revised disclosure prior to 60 days before consummation if the original Loan Estimate clearly and conspicuously states that a revised disclosure could be provided.