2020 US Code
Title 12 - Banks and Banking
Chapter 27 - Real Estate Settlement Procedures
Sec. 2604 - Home buying information booklets
|Citation||12 U.S.C. § 2604 (2020)|
|Section Name||§2604. Home buying information booklets|
(a) Preparation and distribution
(c) Estimate of charges (d) Distribution by lenders to loan applicants at time of receipt or preparation of applications (e) Printing and distribution by lenders of booklets approved by Bureau
|Editorial Notes||EDITORIAL NOTES
REFERENCES IN TEXT
This chapter, referred to in subsec. (a), was in the original "this title" and was translated as reading "this Act", meaning Pub. L. 93–533, which is classified principally to this chapter, to reflect the probable intent of Congress, because Pub. L. 93–533 does not contain titles.
The Truth in Lending Act, referred to in subsec. (b)(3), is title I of Pub. L. 90–321, May 29, 1968, 82 Stat. 146, which is classified generally to subchapter I (§1601 et seq.) of chapter 41 of Title 15, Commerce and Trade. Two sections 129 of the Act have been enacted and are classified to sections 1639 and 1639a of Title 15. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of Title 15 and Tables.AMENDMENTS
2014—Subsec. (b)(14). Pub. L. 113–89 inserted before period at end ", and the following statement: 'Although you may not be required to maintain flood insurance on all structures, you may still wish to do so, and your mortgage lender may still require you to do so to protect the collateral securing the mortgage. If you choose to not maintain flood insurance on a structure, and it floods, you are responsible for all flood losses relating to that structure.' " and transferred par. (14) to appear after par. (13).
2012—Subsec. (b)(14). Pub. L. 112–141 added par. (14) at end of subsec. (b).
2010—Pub. L. 111–203, §1450(1), substituted "Home buying" for "Special" in section catchline.
Pub. L. 111–203, §1098(3)(A), substituted "Bureau" for "Secretary" wherever appearing.
Subsec. (a). Pub. L. 111–203, §1450(2), added subsec. (a) and struck out former subsec. (a). Prior to amendment, text read as follows: "The Bureau shall prepare and distribute booklets jointly addressing compliance with the requirements of the Truth in Lending Act and the provisions of this chapter, in order to help persons borrowing money to finance the purchase of residential real estate better to understand the nature and costs of real estate settlement services. The Bureau shall distribute such booklets to all lenders which make federally related mortgage loans."
Pub. L. 111–203, §1098(3)(B), substituted "The Bureau shall prepare and distribute booklets jointly addressing compliance with the requirements of the Truth in Lending Act and the provisions of this chapter, in order to help persons borrowing money to finance the purchase of residential real estate better to understand the nature and costs of real estate settlement services." for "The Secretary shall prepare and distribute booklets to help persons borrowing money to finance the purchase of residential real estate better to understand the nature and costs of real estate settlement services."
Subsec. (b). Pub. L. 111–203, §1450(2), added subsec. (b) and struck out former subsec. (b) which related to form and detail, cost elements, standard settlement form, escrow accounts, selection of persons for settlement services; and consideration of differences in settlement procedures.
Subsec. (c). Pub. L. 111–203, §1450(3), inserted at end "Each lender shall also include with the booklet a reasonably complete or updated list of homeownership counselors who are certified pursuant to section 1701x(e) of this title and located in the area of the lender."
Subsec. (d). Pub. L. 111–203, §1450(4), inserted "The lender shall provide the booklet in the version that is most appropriate for the person receiving it." after the first sentence.
1992—Subsec. (d). Pub. L. 102–550 substituted "Such booklet shall be provided by delivering it or placing it in the mail not later than 3 business days after the lender receives the application, but no booklet need be provided if the lender denies the application for credit before the end of the 3-day period." for "Such booklet shall be provided at the time of receipt or preparation of such application."
1976—Subsecs. (c) to (e). Pub. L. 94–205 added subsec. (c), redesignated former subsec. (c) as (d), substituted "or for whom it prepares a written application" for "an application" and inserted "or preparation" after "receipt", and redesignated former subsec. (d) as (e).
STATUTORY NOTES AND RELATED SUBSIDIARIES EFFECTIVE DATE OF 2010 AMENDMENT
Amendment by section 1098(3) of Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
Amendment by section 1450 of Pub. L. 111–203 effective on the date on which final regulations implementing that amendment take effect, or on the date that is 18 months after the designated transfer date if such regulations have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade.EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by Pub. L. 94–205 effective Jan. 2, 1976, with the Secretary authorized to suspend for up to 180 days from Jan. 2, 1976, any provision of this section as amended by Pub. L. 94–205, see section 12 of Pub. L. 94–205, set out as a note under section 2602 of this title.EFFECTIVE DATE
Section effective 180 days after Dec. 22, 1974, see section 20 of Pub. L. 93–533, set out as a note under section 2601 of this title.
|Publication Title||United States Code, 2018 Edition, Supplement 2, Title 12 - BANKS AND BANKING|
|Category||Bills and Statutes|
|Collection||United States Code|
|SuDoc Class Number||Y 1.2/5:|
|Contained Within||Title 12 - BANKS AND BANKING
CHAPTER 27 - REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2604 - Home buying information booklets
|Laws In Effect As Of Date||January 13, 2021|
|Statutes at Large References||82 Stat. 146
88 Stat. 1725
89 Stat. 1158
106 Stat. 3892
124 Stat. 2104
126 Stat. 934
128 Stat. 1026
|Public Law References||Public Law 90-321, Public Law 93-533, Public Law 94-205, Public Law 102-550, Public Law 111-203, Public Law 112-141, Public Law 113-89|