Most Popular Lending Content
Escrow for Income Taxes on Commercial Loan
02/09/2004
A loan officer here is wanting to set up an escrow account, on a commercial mortgage, that is to pay income taxes. He wants the money to be part of the monthly payment, and once a year we would transfer the money to the customer's DDA for the customer to pay the income taxes. Is there any reason why this can't be done, and if it can, what needs to be disclosed? Also, would an analysis need to be done yearly for this?
Are there any worksheets I can use to determine if a transaction is subject to the HOEPA requirements?
02/09/2004
Are there any worksheets I can use to determine if a transaction is subject to the HOEPA requirements?
Rolling the Closing Costs into Loan Amount
02/09/2004
Can closing costs be rolled into the loan amount on a home equity loan (closed end)?
Timing on HELOC Disclosures
02/09/2004
How soon after a Home Equity Line of Credit Application is received should the note, right of recission, and other disclosures other than the early ones go out?
Double Interest During Rescission Period
02/02/2004
This question is in relation to Reg Z's right of rescission. On a loan that is subject to right of rescission, we can start to accrue interest as of the date of the loan, not the rescission date. However, if we pay the loan off as of the date the loan comes out of recission, the customer will be paying double interest during that rescission period. Is this allowable?