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TRID - TILA/RESPA Integrated Disclosures Rule
Jump to new posts Re: E-Consent and the CD by Dan Persfull @ 1 minute 39 seconds ago

All parties that are to receive written copies of the disclosure must consent to electronic delivery.
Chat! - BOL Watercooler
Jump to new posts Re: The Presidential Inauguration Poll by edAudit @ 9 minutes 20 seconds ago

I would rather watch Soccer.
Chat! - BOL Watercooler
Jump to new posts Re: What happened to Word Association thread? by Little Miss BSA @ 33 minutes 1 second ago

club
Chat! - BOL Watercooler
Jump to new posts Re: New word association 9/18 by Little Miss BSA @ 33 minutes 16 seconds ago

goat
Ability to Repay/Qualified Mortgage Rule
Jump to new posts Re: Ability to Repay Unemployment income by Dan Persfull @ 43 minutes 42 seconds ago

Unemployment benefits eventually run out. How much longer do they have left to draw? Depending on state law unemployment benefits generally expire after 26 weeks with possible extensions up to 73 weeks. So if the loan's term exceeds the benefit peri
Michigan
Jump to new posts Michigan Electronic Funds Transfer Act by lmaizel @ 45 minutes 28 seconds ago

We're reviewing our Error Resolution procedures and customer notifications. The Michigan Electronic Funds Transfer Act defines a customer as both a person and a business entity. It also includes its own Error Resolution requirements. Reg. E comment
Maryland
Jump to new posts Re: Insider Reporting by rlcarey @ Today at 03:08 PM

If you mean promptly reporting loans to executive officers under 215.5(d)(1), the answer is yes. There are no other reporting requirements in Regulation O. A loan to a director or principal shareholder might need preapproval, but if not, there are n
The BOL Couch
Jump to new posts Polar Plunge by Purple Pride @ Today at 03:05 PM

Have you ever wanted to toss me in a lake? Ever wanted to tell me to take a long walk off a short pier? Well here is your chance. I am once again jumping into a frozen lake to support my Special Olympics team and Special Olympics Minnesota. Please co
HMDA
Jump to new posts Re: ยง1003.5 (e) Notice of availability. by fmissle @ Today at 02:59 PM

Thanks Daivd, It's really a stupid thing to even worry about, but ours is ugly and I just walked by it this morning and thought, "Hey, maybe I can take this down!" I think I might take it down.
Operations Compliance
If there have been no payments, my thought would be to wait until your state escheatment laws come into play. Then drill and remit contents as necessary to your State Comptroller/Treasurer, etc. And of course, dual control
Lending Compliance
Jump to new posts Re: Photocopies of photo ID by David Dickinson @ Today at 02:25 PM

I'm not going to address the legality of photocopying ID's. We've beat this drum before (you can search for previous discussions), but let me add: The idea that copies of DL's is a fair lending issue is so crazy to me. If that is even remotely true
Lending Compliance
Jump to new posts Re: 2 properties in a flood zone, 3 insurances by David Dickinson @ Today at 02:21 PM

I agree with Dan and Cracked (and you). It's great that they have it, but you can't consider the extra property in the calculation.
RESPA
Jump to new posts Re: Short Year Escrow Payoff Statement by Dan Persfull @ Today at 02:14 PM

The purpose of a short year statement is to end the current computation year and establish a new one. In a payoff situation you would need to end the current computation year but why would you need to establish a new one?
Chat! - BOL Watercooler
Jump to new posts Re: New Car by Peepers @ Today at 02:11 PM

I just put in an order on a Turbo S model now I just hope I'm holding the winning numbers for the lottery....
Chat! - BOL Watercooler
Jump to new posts Re: Random Thoughts by Truffle Royale @ Today at 02:01 PM

Yes, you're in the minority as far as thank you goes, Norman. It's just a forum for asking questions and people are busy so I don't expect anything. I'm paying it forward if I'm able to help and I consider it a treat when someone has/takes the time
Need to Remain Anonymous
Jump to new posts Re: File Mortgage Before Rescission Ends by Rocky P @ Today at 02:01 PM

Discussed several times. Bank decision. Pro - it's filed, less of a chance of an intervening lien. Con - in the "very" remote chance the loan is rescinded, the bank has to remove (satisfy) the lien.
Wisconsin
Thank you both for your help with this. It is much appreciated.
Lending Compliance
Jump to new posts Re: Flood Determination Form for multiple buildings by bcompliance @ Today at 01:39 PM

Thanks for the quick response Dan.
TRID - TILA/RESPA Integrated Disclosures Rule
Jump to new posts Concurrent waiting periods for TRID by Saintsfan @ Today at 01:28 PM

I've been trying to find something in the reg. or its commentary that indicates the 7th business day waiting period (to consummate the loan) and the 3 business day waiting period for the consumer to review the CD may run concurrently. Does anyone kn
Flood Compliance
Jump to new posts Re: Construction Loan - When is Flood required? by MB Guy @ Today at 01:26 PM

Does anyone know if FEMA clarified whether new construction is included in the exemption if the policy is obtained post-closing?
TRID - TILA/RESPA Integrated Disclosures Rule
Jump to new posts Re: Structuring a loan to avoid issuance of TRID by Dan Persfull @ Today at 01:15 PM

Loan officer would like to structure the loan as commercial line of credit. Based on what rationale? Collateral does not dictate the loan's purpose. The loan's purpose is consumer, no ifs, ands or buts.
TRID - TILA/RESPA Integrated Disclosures Rule
Jump to new posts TRID v. Escrow Agmnt by Burgess @ Today at 01:11 PM

trying to figure out whether TRID controls here or does the escrow agreement. we closed on a loan. we set up a escrow agreement The borrowers/Sellers are subject to an Escrow Agreement for completion in which they are required to complete the home
Mortgage Servicing Rules
Jump to new posts Re: RESPA: Error Res Designated Address by Stephen @ Today at 01:04 PM

Bump
TRID - TILA/RESPA Integrated Disclosures Rule
Jump to new posts Re: Late Delivery of LE by Norman Paperman @ Today at 12:18 PM

Thank you gentlemen.
CRA
Jump to new posts Re: Capturing Gross Revenue Data by RR Jen @ Today at 12:09 PM

I wouldn't have the weight to argue with the credit department on what is or is not required from their perspective, but I would clearly document your notice of the (even potential) impact of your CRA loan performance to management. We are new repor
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