Most Popular Lending Content
Do We HUD-1 This HELOC?
11/15/2004
HELOCs subject to Section 226.5 of Regulation Z do not require a GFE or HUD-1. However, if our customer is using a closed end first mortgage and a simultaneously issued HELOC to purchase a home, do we need a separate HUD-1 for the HELOC?
Retaining Construction Advance Documentation
11/15/2004
In commercial construction loans, once the construction is complete and you have received the Certificate of Occupancy, how long should you retain the construction advance information (photos, memos, advance request forms)?
If a Condo Association Decides Not to Rebuild ....
11/15/2004
When financing a condo unit suppose the entire building is wiped out by a flood and insurance does not cover mortgage balance. Suppose the association decides not to rebuild but to sell very valuable land. Can the mortgage holder get to customer's portion of land sale proceeds directly as a result of the mortgage?
Action Date for CRA Small Business Loans
11/15/2004
CRA Question: The action date should be the note date, correct? We are booking commercial loans with the "funding date" as the original date on the system, not the note date. Shouldn't the loan processing department use the "actual" note date as the original date?
How Do You Protect Valuable Documents in a Disaster? -- TREEV
11/15/2004
How do I help my bank protect valuable information such as reports, agreements, customer identification documents, and legal papers in the event of a disaster?