Do you think we're entering into a dangerous period for lenders with the economy starting to show some bad signs? Anything we should be doing? Should we be less tolerant of late payments at this point?
Where would I locate information regarding "Right to Offset or set Off" Information such as what types of accounts can the off set be applied against and any other information.
Regarding RESPA: I need to know what is the "proper" way to base fees on mortgage loans so that we do not violate any laws. Is it proper to base "points" (we are the mortgage broker in these cases) on the amount of the loan request? I think it is, instead of based on the interest rate. For example: Up to $150,000------1% $150,000 to $300,000------.75%Over $300,000-------.50% I think that is a safer way to price, rather than basing the fee on the interest rate (higher rate = higher fee)
Can you provide some guidelines for establishing a good second review program?
Is there any law or regulation that would prevent a Bank from accepting only interest on a mortgage loan for a monthly payment and then attaching the additional amount due to the end of the loan term?