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#1501042 - 01/27/11 02:16 PM Limited Lien Search Consumer Loan
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 710
PA
Consumer Loans...we obtain a Limited Lien Search on a dwelling secured loan. We are not providing a Settlement Service Provider list for title services for which the borrower may shop, listing at least one title agency in the market area of the property. Must we? Must the borrower be permitted to 'shop' for this search service?

If upfront fees are not collected, is the Intent to Proceed required?
Last edited by Kathleen B; 01/27/11 02:27 PM. Reason: fixed title
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Lending Compliance
#1501127 - 01/27/11 03:48 PM Re: Limited Lien Search Consumer Loan 2old2care
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,958
Bloomington, IN
You are not required to allow them to shop for any service if you do not want. If you do not allow them to shop for a service then you do not list any providers for that service.

Providers chosen by the lender are subject to applicable tolerances.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1501135 - 01/27/11 03:55 PM Re: Limited Lien Search Consumer Loan Dan Persfull
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 710
PA
Thank You.

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