Most Popular Lending Content
Inadvertent Monitoring Information Collection
08/11/2003
by Mary Beth Guard, BOL Guru
Settlement Date, Closing Date, and Note Date
08/11/2003
On the HUD1, I've always understood that the Settlement/Closing date must be no later than the note date. Recently, a lending officer gave me a differing opinion. To get a definitive answer, I called one very knowledgable person who told me that "The completed HUD1 must be given to the borrower no later than settlement, with settlement occurring when the note and trust deed are signed by the borrower". To get a second opinion, I called another very knowledgable person who told me that the settlement/closing date may be later than the note date because settlement occurs when the funding happens.
Fees For In-House Flood Determination - Mary Beth Guard
08/11/2003
Fees For In-House Flood Determination
by Mary Beth Guard, BOL Guru
Offering Loan Products In Spanish
08/04/2003
Our bank is considering offering loan products in Spanish. Are there any particular compliance issues that would apply?
Construction Loans & ROR
08/04/2003
I am dong a construction loan for a consumer to payoff the lot and purchase and set up a mobile home. The property is 6.0 acres out of a 15 acres tract. They are currently living on the property in a travel trailer and receive mail at the collateral address Does Right of Rescission apply to this transaction?