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2010-09-23
article
Alternative Mortgage Transaction Parity Act; Preemption
Proposed Rules
D09002ee1bdefbc84
D09002ee1bdefbd22
United States
Department of the Treasury
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org
United States Government Agency or Subagency
United States
Office of Thrift Supervision
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org
United States Government Agency or Subagency
The Alternative Mortgage Transaction Parity Act (Parity Act) authorizes state-chartered housing creditors to make, purchase, and enforce alternative mortgage transactions without regard to any state constitution, law, or regulation. To rely on the Parity Act, certain state-chartered housing creditors must comply with regulations on alternative mortgage transactions issued by the Office of Thrift Supervision (OTS). In today's rulemaking, OTS proposes to revise its rule identifying the OTS regulations that apply to creditors under the Parity Act. OTS would no longer identify its regulations on prepayment and late charges for state housing creditors. OTS is also proposing to revise existing limitations on the amount of late charge that may be assessed on loans secured by first liens on residential manufactured homes under part 590. Part 590 addresses the preemption of certain state usury laws for federally-related residential mortgage loans. In addition, OTS is proposing a minor technical change to the definition of reverse mortgage in part 591, which addresses the preemption of state due-on-sale laws.
67 FR 20468
https://www.govinfo.gov/app/details/FR-2002-04-25/02-10126
02-10126
fr25ap02-13
RIN 1550-AB51
6720-01-P
No. 2002-17
https://www.govinfo.gov/app/details/FR-2002-04-25/02-10126
https://www.govinfo.gov/content/pkg/FR-2002-04-25/html/02-10126.htm
https://www.govinfo.gov/content/pkg/FR-2002-04-25/pdf/02-10126.pdf
Consumer Protection
Investments
Manufactured Homes
Mortgages
Reporting and Recordkeeping Requirements
Savings Associations
Securities
Banks
Banking
Loan Programs-Housing and Community Development
7 p.
20468
20474
67 FR 20468
Code of Federal Regulations
Title 12 Part 560
12 CFR Part 560
Code of Federal Regulations
Title 12 Part 590
12 CFR Part 590
Code of Federal Regulations
Title 12 Part 591
12 CFR Part 591
Regulation Identification Number 1550-AB51
RIN 1550-AB51
Alternative Mortgage Transaction Parity Act; Preemption; Federal Register Vol. 67, Issue
PRORULE
02-10126
DEPARTMENT OF THE TREASURY
Office of Thrift Supervision
2002-06-24
No. 2002-17
6720-01-P
02-10126
Notice of proposed rulemaking.
The Alternative Mortgage Transaction Parity Act (Parity Act) authorizes state-chartered housing creditors to make, purchase, and enforce alternative mortgage transactions without regard to any state constitution, law, or regulation. To rely on the Parity Act, certain state-chartered housing creditors must comply with regulations on alternative mortgage transactions issued by the Office of Thrift Supervision (OTS). In today's rulemaking, OTS proposes to revise its rule identifying the OTS regulations that apply to creditors under the Parity Act. OTS would no longer identify its regulations on prepayment and late charges for state housing creditors. OTS is also proposing to revise existing limitations on the amount of late charge that may be assessed on loans secured by first liens on residential manufactured homes under part 590. Part 590 addresses the preemption of certain state usury laws for federally-related residential mortgage loans. In addition, OTS is proposing a minor technical change to the definition of reverse mortgage in part 591, which addresses the preemption of state due-on-sale laws.
Comments must be received on or before June 24, 2002.
Theresa Stark, Senior Project Manager, Compliance Policy, (202) 906-7054; Karen Osterloh, Assistant Chief Counsel, (202) 906-6639, Regulations and Legislation Division, Office of Thrift Supervision, 1700 G Street NW., Washington, DC 20552.
Consumer Protection
Investments
Manufactured Homes
Mortgages
Reporting and Recordkeeping Requirements
Savings Associations
Securities
Banks
Banking
Loan Programs-Housing and Community Development
Alternative Mortgage Transaction Parity Act; preemption,
public.info@ots.treas.gov
regs.comments@ots.treas.gov
public.info
www.mbaa.org
www.newcentury.com
www.ots.treas.gov
Federal Register
Vol. 67, no. 80
Office of the Federal Register, National Archives and Records Administration
2002-04-25
continuing
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190 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2002-04-25
P0b002ee1809dcb97
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr25ap02
https://www.govinfo.gov/app/details/FR-2002-04-25
https://www.govinfo.gov/content/pkg/FR-2002-04-25/pdf/FR-2002-04-25.pdf
https://www.govinfo.gov/content/pkg/FR-2002-04-25/xml/FR-2002-04-25.xml
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20425
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DGPO
2010-09-23
2023-05-04
FR-2002-04-25
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FR
FR-2002-04-25
67
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