Fed to tighten rules for lenders, banks

Proposed changes for Truth in Lending
The Federal Reserve Board will issue new rules for mortgage lenders next week that could require mortgage brokers obtain written agreements from borrowers in order to collect yield spread premiums, and prohibit the coercion of appraisers to inflate property valuations. Changes to Regulation Z, which spells out the Fed's implementation of the Truth in Lending Act, were proposed in December (see story).

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