We have a non-RESPA Auto Loan under 25,000.00. The credit file is missing the signed final TIL. Is this a Reg Z violation and should we redisclose?
Are there any specific size/readability requirements relative to disclosures for Member FDIC,Equal Housing Lender Logos, and, if applicable, disclosures relative to TISA or TILA on billboards? I'm having difficulty understanding what is meant by "clear and conspicuous standards" and am interested in knowing if there are standards for the readability of these disclosures? Is there an industry practice relative to inches of fonts (regardless of the size of the billboard)?
Does a wholesale mortgage lender need to re-disclose under Reg Z and TILA to a borrower who has already received these disclosures from a mortgage broker?
Our Loan processor has added the capability to print out the FACT Act Negative Notice Disclosure with the new loan paperwork. The Negative Notice is a separate document. My concern is the Notice would be considered being included in the initial disclosures. I understand that the Negative Notice could not be provided with the initial disclosures under the Truth in Lending Act.
Of all the settlement fees that can be found on a HUD and GFE, which ones should be marked as a prepaid finance charge? Or, if it's easier, what shouldn't be marked as a prepaid finance charge?
Add "V" to Your Regulatory Alphabet
by Mary Beth Guard
We are about to enter a period of reporting information on high cost loans on the HMDA LAR. The fun begins on January 1, 2004 - actually the first business day after that date.
Do you have, or know where I can download, a "flow chart" which shows the coverage for Regulation Z?
I need clarification on a age old rescission question. Wife is borrower on loan, she lives in home, ownership is in both the wife's and husband's names. Husband does not live in the residence (he has his own principal residence). Husband is not on the note, however he did sign the security agreement. Would the husband have the right to rescind? I am a little confused because I have seen a Reg Z article that states "Each person with an ownership interest has the right to rescind even if all the owners don't live in the house."