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Informational Memorandum
Subject:Consumer Handbook on Adjustable Rate Mortgages (CHARM)
Date of Memorandum:07/13/1999
Expiration Date:
Office:OE
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:none
INFORMATIONAL MEMORANDUM





July 13, 1999


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director /s/
Office of Examination

Subject: Consumer Handbook on Adjustable Rate Mortgages


The Board of Governors of the Federal Reserve System has issued a revised Consumer Handbook on Adjustable Rate Mortgages (CHARM). Regulation Z, which implements the Truth in Lending Act, requires that the handbook be provided to consumers when they apply for an adjustable rate mortgage loan.

Lenders may continue using the earlier version of the handbook until existing supplies are exhausted. Copies of the revised CHARM may be obtained from the Federal Reserve at:

Publication Services, Mail Stop 127
Board of Governors of the Federal Reserve System
Washington, DC 20551

The first 100 copies of the handbook are free. The handbook may also be accessed from the Federal Reserve’s public Web site at: http://www.federalreserve.gov/consumers.htm.

If you have any questions regarding this document, please call Thomas J. Holland, Director, Special Examination and Supervision Division, Office of Examination, at (703) 883-4483, or correspond on the Internet at e-mail address hollandt@fca.gov.