Pandemonimium Breaks Out As Treasury Releases New TILA Guidebook

The U.S. Treasury's Office of the Comptroller of the Currency finally issued it's updated guidebook for the Truth-In-Lending Act. The Guidebook covers everything from compliance issues during the origination of mortgage loans to defenses against civil actions from homeowners. It also covers the proper way to calculate loan payments on mortgage loans and how to notify debtors when their loans are sold to third parties.