Most Popular Lending Content
What's our decision for HMDA?
12/18/2022
We have a purchase mortgage application that was approved with all underwriting conditions met. In review of the title run it was discovered the seller could not convey a clear title to the property. We did send the borrower a Notice of Action for Incomplete Application giving 10 days for clear title to be received. For HMDA purposes would the Action Taken be Approved Not Accepted or Denial?
Exception commenting
12/18/2022
What is an exception comment?
Renew vs Modify, Disclose or No
12/11/2022
We have a consumer construction loan with a fixed rate which we want to extend the maturity with a rate increase. Do we need to re-disclose?
Updating Inactive NMLS
12/11/2022
Does an "inactive" NMLS record need to be maintained and updated? The inactive status is intentional since the individual is no longer in a position that requires an an active status. I don't think the record requires maintenance unless the person becomes active again, but I am unable to find any information on that so am looking for an additional opinion.
Missing documents risks
12/11/2022
Why do missing documents create risk for a financial institution?