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#296238 - 12/30/04 05:18 PM home equity loans
keith56 Offline
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Joined: May 2004
Posts: 4
Sometime ago we were told that as long as we had a second position, we did not have to show on the HUD the property taxes and homeowners insurance. Now have been told that the FDIC office in Des Moines expects this information to be shown. Any input will be appreciated.

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Lending Compliance
#296239 - 12/30/04 05:25 PM Re: home equity loans
someone else Offline
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someone else
Joined: Aug 2004
Posts: 3,300
back to my roots
I am not certain if it is a regulatory requirement or not but we require it on all HUDs for our 2nd mortgages.
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#296240 - 12/30/04 07:14 PM Re: home equity loans
corkygirl Offline
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Posts: 4,241
middle of the country
We require the insurance on all HUD's but not the property taxes, anymore.
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#296241 - 12/30/04 08:06 PM Re: home equity loans
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Quote:

We require the insurance on all HUD's but not the property taxes, anymore.



Neither do we, we are also in the Chicago Region, but this is one requirement that can and does differ between regions.
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The opinions expressed are mine and they are not to be taken as legal advice.

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