Most Popular Lending Content
Disclosures: Using A HELOC To Pay Off First Mortgage
02/02/2003
If a customer is paying off a first mortgage with a new home equity line of credit, do we need to disclose the first mortgage payoff in any disclosures?
Online Vendors For Flood Determination
02/02/2003
I am interested in flood hazard determinations. Instead of signing up with a company to do my determinations, is there a web site that will be approved by my regulators that we can do ourselves. If so, can we also charge a fee for this service?
Can we be cited for over disclosing RESPA if we give a discosure when it's not required?
02/02/2003
One of my bank officers gave RESPA disclosures on a loan that was covered by the exemption section of the reg. Are we exposing our bank to be written up for a compliance exception by over disclosing when not necessary?
Loan Denial & Flood Zone Issues
02/02/2003
We have a loan application that was denied based on low appraised value. The proposed collateral was property that is located in a flood zone. The flood letter was sent to the customer in a timely manner, but has not been returned. Does this create a problem?
Understandable Disclosures?
02/01/2003
The Comptroller of the Currency has put forward a revolutionary idea: consumer disclosures that are easy to prepare and understandable to consumers. What a novel concept.