Vendor Guru Q&A - Lending

Latest Lending - Advertising Topics

Equal Housing Lender for Multi-Family Lending

07/26/2015

Our bank offers commercial mortgages as well as mixed use and multi-family lending. Do we need to include Equal Housing Lender and dog house on our advertising and marketing materials for any of these products?

FDIC and Equal Housing Lender Information Relative to Advertising OREO Property

07/12/2015

If we are listing OREO property for sale in the newspaper, must we include the FDIC or Equal Housing Lender information?

NMLS# Required on Signs for Loan Originators?

04/13/2015

I am going to have signs made for our loan originators that say Financing Provided By - our bank and their contact info - do I need to include the NMLS# on these signs?

Do Mortgage Loans Follow Same Rules As Checking?

09/15/2014

Do mortgage loans follow the sames rules/regulations as checking accounts in regards to offering a cash or gift card when an account is opened. For example, could we book a mortgage with up before 12/31/14 and receive a $100 Home Depot gift card? Does this violate anything, and if not, what kind of disclosures would have to be paired with such a statement?

Mtg Loans Follow Same Regs as Checking/Gift Card?

09/08/2014

Do mortgage loans follow the same rules/regulations as checking accounts in regards to offering a cash or gift card when an account is opened. For example, could we say Book a mortgage with us before 12/31/14 and receive a $100 Home Depot gift card? Does this violate anything, and if not, what kind of disclosures would have to be paired with such a statement?

Equal Housing Lender Logo/Disclosure On Website

05/26/2014

On our banking website do we need both the equal housing lender logo AND disclosure? I read that we do but can find one banking website that actually does.

Open House Listing Sheet and RESPA Violation

05/26/2014

If we create an open house listing sheet and cobrand it with a realtor, would this be a RESPA violation if we, the lender, paid all costs for production of the flyer? A listing sheet includes the property address and some financing scenarios for the specific property.

Radio Ad - Stating Interest Rates, APR & APY

11/23/2009

We are doing a real estate mortgage marketing radio ad and are stating an interest rate and APR. How far out do these rates need to go? Is two places far enough, or do we need to go three as in 4.677%? We'll also be advertising deposits. Do those rules differ as to APR/APY and the decimal places that should be disclose?

Working while you play

04/30/2001

by Sam Ott
BIO AND CONTACT INFO

Toughest Banking Regulator

08/30/2020

Which regulator issues the most enforcement actions?

Fair lending is more than mortgages

08/30/2020

The CFPB hasn’t been active in fair lending other than mortgages, correct, does this present any challenges?

Exception Reporting Software Features

08/30/2020

What features should we look for in an exception reporting system?

Zealous EVP earns big bonuses for being a big bank promoter – LO Comp restriction concerns?

08/30/2020

Our Executive VP earns a substantial annual bonus. He doesn’t really do any real estate lending, but he certainly talks with many bank customers (often on the golf course) about how the bank can provide various loan solutions, including home loans. Up to this point, he has kept his NMLS ID # and registration current “to CYA”. I’m concerned his bonus may be non-compliant with Loan Originator Compensation requirements. Should I be worried?

Home Equity Application-3 Business Days Rule

08/30/2020

If a home equity loan application is not decisioned within 3 business days and preliminary disclosures are not sent out within those 3 business days, does the application need to be canceled and a new application keyed in? That is our current practice and it's a nightmare for HMDA monitoring submissions.

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