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Monday Laundry on Tuesday

My weekly list of things I meant to say, follow-ups, requests, all the personal finance news that need to be cleaned up and aired out.

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I hear....

That Michael and Diane Bienes' names have been taken down at the (formerly) Bienes Diagnostic Center at Holy Cross Hospital. Bienes, you will remember, ran one of those Madoff feeder funds until the SEC shut him down. Many of the investors in his fund then invested with Madoff directly. Bienes told me he had to stop his many charitable contributions last year, because he, too, had his money with Madoff. Anyone else know if this is true? I've put in a call to a Holy Cross spokeswoman to check this out. ..

And I learned....

Some of the new rules for mortgage disclosures from FDIC Consumer News, http://www.fdic.gov/consumers/consumer/news/cnsum09/index.html

-Starting Oct. 1, the loan documents will have to disclose any fees the lender pays to a mortgage broker for bringing in your business.
-In effect since July 30 is a Federal Reserve rule that says lenders have to give borrowers disclosures about the loan at least seven business days before the loan closes. This is for mortgages as well as refinancing a loan.
-Starting Jan. 1, HUD will limit how much the actual costs can go up from the good faith estimates.

Watch Me...

On Wednesday, on Nightly Business Report. My commentary will be about why I think there's been such an increase in investment fraud. The show airs on Public Broadcasting System stations nationwide.

POSTED IN: Your Money (119)

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About This Blog

You've got the job of managing your money. No one in school taught you how.

But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money... < More >

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...< More >

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