Most Popular Lending Content
Are all deposits income for a loan?
12/25/2022
If the borrower receives funds as the rep payee for his disabled brothers, can that money be counted as income for the borrower when completing underwriting?
Military Lending Rules
12/25/2022
Hasn’t military lending been quiet this year?
What's our decision for HMDA?
12/18/2022
We have a purchase mortgage application that was approved with all underwriting conditions met. In review of the title run it was discovered the seller could not convey a clear title to the property. We did send the borrower a Notice of Action for Incomplete Application giving 10 days for clear title to be received. For HMDA purposes would the Action Taken be Approved Not Accepted or Denial?
Exception commenting
12/18/2022
What is an exception comment?
Modifying a Construction Loan
12/18/2022
We have an existing construction loan that we would like to increase. Will this have to follow TRID rules or can we do a modification to increase the loan amount, charge a 1% loan fee on the new proceeds, add filing fees, title fees and any other fees that may be associated with the modification?