Government requirements for disclosure fail to make the grade

Federal ARM mandated disclosures fall short of being useful
Published on Dec 27, 2005

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by CareyBot

Q: “What grade would you give the federal government in establishing disclosure rules for adjustable-rate mortgages (ARMs)?” A: “F” for “flunk,” because the mandated disclosures exclude the essential information borrowers need to make decisions. Borrowers contemplating an ARM ought to ...