Most Popular Lending Content
Who Requests an ROV?
08/27/2023
Who can request a ROV?
Can closing fees be marked up?
08/20/2023
Generally a bank charges a set flood certification fee around $18.00. It is identified as flood certification on the Loan Estimate and Closing Disclosure. No other flood fees are assessed. The actual flood amount charged is $13.25. The FDIC has never had a problem with this. Is that markup a violation of RESPA or another requirement?
Multi-lingual ads without Multi-lingual Apps?
08/20/2023
Is it acceptable to run an ad or share a flyer in a foreign language, but not provide applications or disclosures in the foreign language? For example, we have a Spanish-speaking lender who attends sessions hosted by area non-profits. The sessions are in Spanish, but the flyer he provides is in English. It would be more appropriate if the flyer were in Spanish, although we are not prepared at this point to provide Mortgage applications or disclosures in Spanish.
Refusing to Reconsider a Valuation
08/20/2023
Can we refuse to reconsider a value?
CRE Loans Based on Which Value?
08/13/2023
Does using purchase price vs actual appraisal amount include commercial or land properties or is that only for consumer dwellings? Example: purchase price of CML bldg $85,000, appraisal amount $150,000 - based on the supervisory LTV limits, can I lend 85% of the $85k or $150K and not have an exception to the supervisory limits?