What are the rules when doing a loan modification on real estate? This loan is secured by 36 acres of vacant land if that matters.
Who should technically be doing a loan closing?
How should a bank allocate flood coverage when multiple buildings are on one
Here is my example: 1-4 Residences and we need to start the 45-day process
for building one.
Loan balance: $800,000
Bldg 1: RCV = $235,000; with previous coverage of $250,000
Bldg 2: RCV = $275,000; with current coverage of $250,000
Bldg 3: RCV = $200,000; with current coverage of $250,000
Minimum required would be $685,000, which is bldg 1 = $235,000, bldg 2 =
$250,000, bldg 3 = $200,000
If the $685,000 can be allocated any way, what amount would be used for
building 1 so as to not be insuring too much?
When and to whom must HUDs SCRA mortgage notice be sent out? We prefer to wait for the 45 day notice we already send.
When do we disclose Property Value instead of Sales Price?
I have a refinance loan closing and I have to pay the real estate property taxes that were due on 7/1- summer taxes. Where should I put them on the
Closing Disclosure, In section F-prepaid or is it okay to put them in the payments and payoff section (page 3) on the CD?
Has the CFPB provided sample forms for construction loans?
There is a surplus in the borrower's escrow account, but the loan is past due. Can we apply this surplus to his loan? The surplus is $315.44 due to
decrease in his homeowner's insurance premium.
We have a consumer real estate construction to permanent loan pending. Does
Our bank is looking into offering mortgages with an initial fixed rate, short term loan (5-7yrs) with a balloon payment, then financing the balloon
balance into a longer term (20yr) ARM. Can we do this without determining Ability to Repay for the initial short term portion? Also, would this be
dependent on if the bank is considered a small creditor and serves only rural or underserved areas?