Most Popular Lending Content
Minimum Age to be a Member of LLC
09/15/2019
What is the minimum age a person can be to be a member of an LLC and if it is less that 18, does it impact that persons ability to borrow on behalf of the LLC?
MLO Transfers to Location: Updating Address
09/15/2019
If an MLO transfers to another location at the same institution or there is a change in the address of the location that the MLO directly reports to, how long does the MLO have to update the contact address on the NMLS consumer access site to reflect the (new) accurate address location? I couldn't find anything specific regarding a time frame within the regulation, and it only touched on the requirement of internally auditing, at minimum, annually to ensure accuracy.
Requirements when Lending to a Non-US Citizen
09/15/2019
Are there any specific requirements or restrictions when it comes to lending to a non-US Citizen?
Loan Docs Returned After the Note Date
09/15/2019
A question has come up after we prepared a Note for a commercial loan. It was dated July 15,, but the customer did not return these documents until July 22. We funded this loan and effective dated our loan to the 15th to match the Note. Now management is saying we should not have effective dated the loan, only the date we actually funded it. Can we do this, not just for commercial but also residential loans? What is the correct way to handle loan docs returned after the Note date?
Escrows, more than dirt
09/15/2019
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?
