Most Popular Compliance Content
Unlawful Internet Gambling Enforcement Act
12/08/2008
When does the Internet Gambling Enforcement Act go into effect and where can I get a copy?
Mandatory Flood Coverage on All Buildings?
12/08/2008
We have a loan with collateral located in flood zone A. The collateral includes the principal dwelling, a pump shed, eight grain silos, a dog kennel, a barn, a building previously used as beauty parlor and several other small buildings. If the amount of flood coverage on the home meets or exceeds the loan amount, are we required to have the customer carry flood coverage on the other buildings? Can you give me the publication or legislation and page numbers that would back the yes or no answer?
Business Purpose and Exempt from RESPA?
12/08/2008
I have a consumer who owns multiple 1 to 4 family rental properties. He is interested in obtaining loan on one of the rental properties for the purpose of making business investments which may include the purchase of additional investments properties. Would this be a business purpose loan and exempt from RESPA?
Loan Secured by Son's Home - HMDA Reportable?
12/08/2008
A couple bought a home for their son and took out a HELOC secured by their own home. The home purchased for the son was titled in the son's name when purchased. Now the son wants to do a loan secured by that home to pay his parents back. Would this be HMDA reportable? I don't think so because the son already owns the property.
HMDA Reporting - Selling a Participation Loan
12/08/2008
If we sell a participation loan to another bank who reports HMDA?