I have a question concerning Reg B and closed-end Home Equity Loans. We currently use Fannie Mae Form 1003 for all real estate related loans. In doing so are we violating Reg B with GMI on our home equity and construction loan on 1-4 family dwellings? My understanding is that the 1003 is a suggested form to use under Reg B because it gives that disclosure to the borrower about the use of the information. What is your opinion?
We would like to allow overdraft protection through a home equity line of credit, but want to make sure that any debit card does not become a credit card through this process. Can you point me to some specific guidance on this?
I have a RESPA question. Do we need to give all the disclosures such as early TIL, GFE, Info Booklet and the servicing disclosure for a home equity closed-end loan?
Is a HUD Settlement Statement mandatory as part of the Home Equity Loan Closing Package?
A customer applies for a fixed rate home equity loan which will be the first and only lien on the property. Do I need to collect government monitoring information?
Do home equity (line or loan) applications and disclosures expire after a certain period of time? (30, 60 or 90 days from date of receipt or issuance.)
Must the house logo be on home equity loan payment statements sent out to customers?
I have two loans, one revolving line of credit with a one year maturity and one term/balloon with a twenty year term. The real estate for both loans is being cross collateralized. Don't we need a separate flood certification/determination for each loan?
I am preparing a GFE for a closed end home equity loan and have been informed that I must also provide the home owner's insurance premium and real estate property taxes before a GFE can be given. Why now?
Are service providers, names, addresses and phone numbers to be included in the Home Equity Application Disclosure(Early Home Equity Line of Credit Disclosures). What is required and what is not required under third party fees?