Most Popular Lending Content
Tracking electronic documents for commercial loans
07/02/2023
What is involved with tracking electronic documents for commercial loans?
HPML escrow cancellation question
07/02/2023
An HPML borrower is asking to cancel his mandatory escrow account because his home value has skyrocketed in the past couple of years, and he is now way below an 80% LTV. He is always on time with his payments, and it a valued customer. We can allow him to cancel, right?
OK to collect extra cushion in escrow, “just in case” for anticipated tax increases?
06/25/2023
A construction mortgage lender is insisting that for escrowing, it is OK in the first year to estimate property taxes and collect more because regulators would rather we give a check back to a customer at the end of the first year, than to have sticker shock at year 2 when higher taxes kick in. Is she right?
Rate sheet content
06/25/2023
If we have a rate sheet that we give to real estate agents and our loan originators, but we know the true use will be for them to hand it to consumers or post it where consumers can readily access it, wouldn't we need to have the APR on it?
Disclosures and Acquisitions
06/25/2023
We received a mortgage loan application and sent out the initial disclosures. During the loan process the loan officers mortgage company was acquired by another. Does this require a new loan or can we just update the company name and NMLS so it is correct on our loan documents (the Note and Deed of Trust)?