Most Popular Lending Content
Mortgage Referral Fee Paid to Employees
12/15/2003
Can we pay a $50.00 referral fee to our employees for referring customers to our mortgage department? The fee would be conditioned on if the loan closes. These mortgage loans are sold to the secondary market and are table-funded.
When Insurance Is Not Offered
12/15/2003
Our company does not offer credit life and disability insurance. Our note and disclosure print out with the insurance boxes showing the customer does not want the insurances. because we do not offer insurance. Do we still need to have the customer sign something showing a denial of the insurance? I say no we do not but another lender disagrees. Help!
Risk Management Anyone?
12/01/2003
Risk management is the watchword of the day. It is the theme song of each of the regulatory agencies as they describe their new examination procedures.
Time Restriction Before Refinance Can Occur
12/01/2003
Is there a time restriction between when a loan closes and when a borrower can refinance the same property?
Cisneros on CRA
12/01/2003
Henry Cisneros was the keynote speaker at PCI's annual CRA and Fair Lending Colloquium. He observed that the private sector can do much more than the government to cause change.