Most Popular Lending Content
Is a tax monitoring fee a pre-paid finance charge?
08/18/2003
Our institution would like to charge a one-time $ 75 fee to our mortgage customers for our service of monitoring whether or not their property taxes are paid over the life of their loan. Is this a pre-paid finance charge? Are there other compliance issues we should be addressing?
Dealer Loan Portfolios & Fair Lending Concerns
08/18/2003
The bank I work for has a huge dealer loan portfolio and works directly with a large number of dealers. We recently rolled out a "Preapproved Program" in which dealers are allowed to pre-approve loans on the bank's behalf using bank issued guidelines. They arealso considering expanding the pre-approved program to include our mortgage broker relationships. I have been searching for articles that discuss indirect loans and fair lending concerns and cannot locate any. Can you recommend any resources I can use to develop a management presentation that outlines the "fair lending concerns" associated with these activities? In addition, is there a checklist any where that can be used as review outline of fair lending issues/concerns to consider as management continues to develop new and/or more competitive loan programs?
Calculation of APRs on ARMs
08/18/2003
I'm looking for a formula for calculating APRs on ARMs. This would include premium and discounted start rates, accounting for the yearly caps.
HUD Escrow Account Storage
08/18/2003
How long must HUD escrow accounts be kept and is computerized storageokay?
New Branches & CRA/HMDA Reporting
08/18/2003
I just need to verify information.We are an existing CRA/HMDAreporting institution. We just opened two new branches in July, 2003. I would assume that we would collect data for reporting immediately and that there is not any kind of transition period. Am I correct?