{"abstract":"The Alternative Mortgage Transaction Parity Act (Parity Act) authorizes state-chartered housing creditors to make, purchase, and enforce alternative mortgage transactions without regard to any state constitution, law, or regulation. To rely on the Parity Act, certain state-chartered housing creditors must comply with regulations on alternative mortgage transactions issued by the Office of Thrift Supervision (OTS). In today's rulemaking, OTS proposes to revise its rule identifying the OTS regulations that apply to creditors under the Parity Act. OTS would no longer identify its regulations on prepayment and late charges for state housing creditors. OTS is also proposing to revise existing limitations on the amount of late charge that may be assessed on loans secured by first liens on residential manufactured homes under part 590. Part 590 addresses the preemption of certain state usury laws for federally-related residential mortgage loans. In addition, OTS is proposing a minor technical change to the definition of reverse mortgage in part 591, which addresses the preemption of state due-on-sale laws.","action":"Notice of proposed rulemaking.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Office of Thrift Supervision","name":"Thrift Supervision Office","id":489,"url":"https://www.federalregister.gov/agencies/thrift-supervision-office","json_url":"https://www.federalregister.gov/api/v1/agencies/489","parent_id":497,"slug":"thrift-supervision-office"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2002/04/25/02-10126.html","cfr_references":[{"chapter":null,"citation_url":null,"part":560,"title":12},{"chapter":null,"citation_url":null,"part":590,"title":12},{"chapter":null,"citation_url":null,"part":591,"title":12}],"citation":"67 FR 20468","comment_url":null,"comments_close_on":"2002-06-24","correction_of":null,"corrections":[],"dates":"Comments must be received on or before June 24, 2002.","disposition_notes":null,"docket_ids":["No. 2002-17"],"dockets":[],"document_number":"02-10126","effective_on":null,"end_page":20474,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2002/04/25/02-10126.xml","html_url":"https://www.federalregister.gov/documents/2002/04/25/02-10126/alternative-mortgage-transaction-parity-act-preemption","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/02-10126?publication_date=2002-04-25","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2002-04-25/02-10126/mods.xml","not_received_for_publication":null,"page_length":7,"page_views":{"count":395,"last_updated":"2026-04-04 18:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2002-04-25/pdf/02-10126.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2002-04-25","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2002/04/25/02-10126.txt","regulation_id_number_info":{"1550-AB51":{"issue":"200204","html_url":"https://www.federalregister.gov/regulations/1550-AB51/alternative-mortgage-transaction-parity-act-preemption","title":"Alternative Mortgage Transaction Parity Act; Preemption","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=200204&RIN=1550-AB51&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1550-AB51"],"regulations_dot_gov_info":{},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":20468,"subtype":null,"title":"Alternative Mortgage Transaction Parity Act; Preemption","toc_doc":"Alternative Mortgage Transaction Parity Act; preemption","toc_subject":null,"topics":["Banks, banking","Banks, banking","Banks, banking","Banks, banking","Consumer protection","Investments","Loan programs-housing and community development","Manufactured homes","Mortgages","Reporting and recordkeeping requirements","Savings associations","Securities"],"type":"Proposed Rule","volume":67}