Vendor Guru Q&A - Lending

Latest Lending - Adjustable Rate Mortgages Topics

APR on the Closing Disclosure

08/22/2021

Regarding the APR on the Closing Disclosure: our ARM rates are set at application. Our Note provides for a 45-day look-back for rate changes. I'm conflicted reading the regulation and want to verify that we should be using the index within that 45-day period before consummation to calculate the APR on the CD? The initial rate is not determined by "index + margin," but changes are based on index/margin/caps. I think they should be using the most current index when the CD is issued. Often times the application date is greater than 45 days from consummation. I believe this is the most conservative approach.

15 Year Historical Example Required for ARM Loans?

05/04/2015

Is a 15 year historical example required for ARM mortgage loans?

Reg Z Language Requirements for ARM Mortgage

02/10/2014

For an ARM mortgage, is the language in the Reg Z TIL box marked Variable Rate Feature sufficient? Our LOS has a text box and we put language relating to our margin, index, etc. which I would prefer to eliminate, but need to know there are specific requirements?

Threads About the Lending Compliance Changes

11/10/2009

This is a compilation of links to some of the liveliest recent threads relating to the lending compliance challenges bankers are dealing with at this time.

Lending Disclosures at a Glance

03/01/2002

by Mary Beth Guard, BOL Guru

Applications, Anyone?

10/01/2001

No matter what your training topic, someone will ask you what an application is. Or they'll ask you a question about when communication with a consumer becomes an application.

Truth in Lending

01/01/2000

Truth in Lending, and its close ally, Regulation Z, have been at the center of the compliance circle from the beginning.

How Important is Compliance Management?

03/01/1996

We have been talking about "managing compliance" or compliance "management" for some years. Those of us who do it - who manage compliance - know what it is.

Premium Content View All

The Progress of ARMs

In the world of mortgage lending, adjustable rate mortgages are a relatively young product.

Prohibited Contract Terms by Loan Type

With the Federal Reserve’s proposal to revise Regulation Z to limit predatory lending and the ideas and bills circulating in Congress, it is time to take a careful look at what disclosures are requ

Exception Management

10/17/2021

What does “exception management” mean in banking?

Escrow short year statements

10/17/2021

Doing annual statements is a real pain every month. What can we do to make these easier?

Escrows, more than dirt

10/14/2021

While auditing a mobile home loan I saw escrow statements. Isn’t this unnecessary since RESPA doesn’t apply when we don’t have real estate as our loan collateral?

Escrows, more than dirt

10/10/2021

While auditing a mobile home loan I saw escrow statements. Isn’t this unnecessary since RESPA doesn’t apply when we don’t have real estate as our loan collateral?

Legally Permissible to Email Firm Offer of Credit?

10/10/2021

Is it legally permissible to email a firm offer of credit?

Latest Lending - Adjustable Rate Mortgages Topics

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