Many bankers have relied on the Federal Reserve Board (FRB) for years as an inexpensive source for the disclosure booklets required for adjustable-rate mortgages. The booklet is frequently referred to as the Consumer Handbook for Adjustable-Rate Mortgages, or CHARM Booklet.
Recently it came to my attention that the CHARM Booklet is no longer available through the FRB’s website since the underlying regulation, Regulation Z, has been transferred to the Consumer Financial Protection Bureau (CFPB). However, according the CFPB’s website the Booklet out of stock and any order is placed on backorder.
The booklet will be made obsolete by pending changes to Regulation Z. It is not clear whether the CFPB will reprint the current booklet or wait until the changes are complete then print the revised booklet. Until the dust settles on this issue you probably should purchase the current version from a forms vendor or print the booklet locally, as needed.
