Is it acceptable for flood insurance to be in place after settlement but before the three day right of rescission is up?
In a rescindable transaction, is it required to have the Borrower's signature for "Acknowledgment of Receipt" AND for the signature for "Certificate of Noncancellation" on the SAME Notice of Right to Cancel form? Is it acceptable to have a signature for Acknowledgment of Receipt on 1 form and the signature for Certificate of Noncancellation?
Would a 3 day Right of Rescission apply on a second lien Owelty Deed for a Divorce situation?
We have a customer that is buying a spec home from a builder. The customer has moved into the spec home prior to the loan being closed. Does this loan require that we give a Right of Rescission to the borrower? Our compliance consultant company says NO but I have an employee at an IBA seminar today that is saying per Reg Z says No but Truth in Lending Law says Yes so we should do a rescission.
What is the effect of using an old form of Truth in Lending Disclosure Statement in a mortgage loan?
Does R of R apply to a mobile home without land refi?
We are writing loan documents for a loan being secured by a mobile home without land. The mobile home is their primary residence titled under the husbands name only. Does the wife have to sign a right of rescission notice?
We are refinancing a consumer construction loan to add funds to complete construction. Consumers are residing at another residence until the new house is completed. The construction house in uninhabitable as it stands now - and secures the loan. The repayment source is the mortgage loan by the same lender. Would the new loan require a Right of Rescission even though the consumers have another principle address?
Does it matter if the loan check is dated after the date of the loan?
Would the scenario below fall under the joint owner buyout? A client comes in to get a loan to have the name of one of the owners removed from the Deed of Trust. However, there was a Quit Claim Deed done prior to the loan giving full ownership to the client. The client just needs the funds from the loan to buyout the other owner.