Most Popular Compliance Content
Case by Case & Exception Holds - Definiton Needed
10/13/2008
I need a definition of Reg CC case by case holds and exception holds.
Property Deemed to be in the SFHA
10/13/2008
I have a customer whose property has been deemed to be in the SFHA. The first letter suggested by FEMA to send to him states "...in the event you wish to challenge the zone determination, you must provide written evidence which supports your challenge. This may be obtained from..." What type of documentation is required of him if he wishes to challenge the determination and how long do I give him to act before I need to force place this coverage? I want to give him every chance as long as he is moving forward with a LOMA or other information to take him out of the SFHA. I especially don't want him tagging me along just to avoid the additional insurance.
Disclosing Vendors Used in a Mortgage Loan
10/13/2008
Are we required to disclose all vendors used in a mortgage loan?
Appraisers & the GFE
10/13/2008
We occasionally do home purchases out of our normal lending area. We obviously would not have an appraiser on our approved appraiser list for such purchases. My understanding is that we must list a required provider for a settlement service and the appraisal is part of the settlement service (the customer is paying for the appraisal). I believe the officer must contact an appraiser and provide his name, address and phone number within the three day period to get the GFE done properly. Other teammates believe that we can put a disclosure on our approved appraiser list says "on out of area purchases we will identify an appraiser at a later time." Please provide guidance on this issue.
Red Flag Rule Compliance: 5 Things You Need to Know
10/13/2008