Most Popular Lending Content
RESPA & Fees For Non-Escrow For Taxes And Insurance
07/15/2002
At the bank I work at we are going to begin charging a fee to our real estate customers that do not escrow for their taxes and insurance. This will be a one time fee when the loan is set up. Is this permissible under RESPA?
Applying Principal To Loans Against A Credit Card
07/15/2002
What are the regulations concerning the application of the principal portion of a payment when the loan is against a credit card that has different balances kept for purchase advances, cash advances and balance transfers? Is it permissible to reduce only one of these balances with the principal portion of the payment or must each balance be reduced? If each balance must be reduced, what is the formula used to decide what portion of the principal is applied to each balance?
When the Borrower's Home is Owned by a Business
07/08/2002
by Mary Beth Guard, BOL Guru
RESPA: HUD Mobilizes RESPA Ideas
07/01/2002
HUD wants to simplify the real estate settlement process for consumers, augment the ability of consumers to shop for settlement services, and improve disclosures required by RESPA.
Overstated Finance Charge
07/01/2002
We have reviewed several TILs dating back 6 months to a year for construction loans that had a six month construction period. The TIL was for the construction period only. In almost every case, the APR disclosed was accurate, and the Finance Charge was overstated substantially. My question relates to the overstatement of the finance charge. Is the overstatement of the finance charge a violation of Reg Z?