11/18/2018
I have always been told that if you have a bonefide discount fee (point) that the discount fee does not need to be included in the APR. It seems as if everyone is including in the APR (the discount fee). Is there a way to not include it in the APR?
07/01/2018
We have a loan that is a mobile/manufactured home on land. It sits on a basement and has a garage. We are wondering if the fee, $150.00 to the State of Michigan for the Affidavit of Affixture, is to be included in the APR.
02/19/2017
Appendix D is used for reference in calculating an APR for construction loans. However, it states "Using the 365 payment line, the closest to $251.73 is $253.93 which corresponds to an APR of 11.25%"
What payment line is this referring to and how is this converting to a 11.25 rate; are there books that this is referring to and if so, where can you obtain it?
10/30/2016
If the interest rate disclosed in a promissory note is incorrect (it is lower than what is actually being charged), is that a Reg Z problem? What if the TILA disclosure is within tolerance and is considered correct, could this then be an issue with UDAAP?
10/27/2014
Is it ok to use a 30/360 accrual method on a bridge loan to purchase primary residence with interest only payments?
10/20/2014
I'm working on a spreadsheet that automatically calculates the APR for a variety of loan scenarios on our loan officer's rate sheet. I'm trying to create a formula (or series of formulas) in Excel that will calculate the APR on an FHA loan with PMI. Can anyone help me with that?
10/20/2014
I'm working on a spreadsheet that automatically calculates the APR for a variety of loan scenarios on our loan officer's rate sheet. I'm trying to create a formula (or series of formulas) in Excel that will calculate the APR on an FHA loan with PMI. Can anyone help me with that?
05/26/2014
Does anyone know of a technology program that can be run nightly against all loans made that will validate the APRs?
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?
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.