Most Popular Compliance Content
Changing Credit Limit on HELOC
01/19/2004
A current HELOC customer would like to change his authorized credit limit. He is still in his draw period. Do we have to accomplish a new note and right of rescission? Any other docs? Or could we just accomplish a Modification Agreement?
RESPA and HELOCs
01/19/2004
Is a Home Equity Line of Credit subject to RESPA? RESPA uses "federally related mortgage loan" for purposes of section 8 violations. I don't see that HELOC's fall under this category and therefore don't see how they are subject to RESPA and section 8.
Variable Rate Credit Cards
01/19/2004
Where would I find some specific guidance regarding variable rate credit card products? Specifically, I need to know if we are required to have a ceiling for variable rate credit card products?
Investment Firms and Banks Selfdealing
01/19/2004
Our bank has just recently purchased an investment firm. My question is, Can the bank purchase investment products for the bank from the firm or is that selfdealing?
Disclosures on HELOC to Purchase Home
01/19/2004
What required disclosures to you need on a HELOC ifthe main purpose of the loan is to purchase the borrowers' house? They are only asking for $40,000.00? Do you need an early truth in lending disclosure or early good faith estimate and any other early disclosures?