I am reviewing a deposit ad for branch flyers. The Free Banking Service package includes an array of free services including free money orders, official checks, and stop payments. Should there be a disclosure as to how many and how often the customer can receive this benefit or does the statement to contact an employee for more information cover this?
Can we collect property taxes during construction based on the completed value of the home?
We found an HPML in our audit. There is no escrow set up. What can we do?
We had a customer ask to start a voluntary escrow account on an existing loan. Do we need a new agreement?
What are the last changes on RESPA and Reg Z ?
Is a new truth in-lending required when there is a change in circumstances? (2nd lien)
Are any TILA disclosures required when an open end HELOC has the option to fix portions of the line during the draw period? The fixed loan options are tied to the line and work like a credit card with fixed rate options.Where in Reg Z is this addressed?
Can we change the business address on the system from the owners home address to the address where the business is conducted without written authorization from the business owner?
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.
If part of line 801 "Origination Fee" is broken out as Doc Prep Fee, can that portion be excluded from the Finance Charge for TILA?