When a loan is denied because of negative information in a spouse's or co-signer's credit report, can we discuss the details of the spouse's or co-applicant's report with the loan applicant?
I have been reviewing the area of what is included as finance charge. I discovered that I may have the incorrect interpretation regarding premiums for private mortgage insurance. There is no indication as to the number of premiums to include as part of the finance charge. We have always used the premiums collected at closing, which would be included as part of the escrow. I have received information that it should be the premiums for the whole term, however one year would be accepted by the examiners. Can you help clarify this?
If a customer has a repossession and there is a deficiency after sale of collateral, and the customer was notified of the balance owing, is there a time frame that we are required to keep any correspondence regarding the balance owing or a time frame that the individual must dispute the balance reported to the credit bureau?