Sweeping Regulation Z Changes

by Michael Shohoney October 6, 2010 07:12
As many of you are painfully aware, Regulation Z had some massive changes made to it on September 24.  The changes, which are part of the Mortgage Disclosure Improvement Act (MDIA), affect the Truth-in-Lending statement for all loans secured by real property or a dwelling.  Instead of the payment schedule disclosed under Section 226.18 (g), a new payment table as defined in new Section 226.18 (s) must be disclosed.  Obviously these changes affect ZMath, eZMath and the ZMathEngine.  We have already begun the process of updating all of these systems and will release new versions prior to the mandatory compliance date of January 30, 2011.  As always, if you have any questions, feel free to contact us.  As soon as we are ready to release the changes, we will notify our customers directly and via our blog.