Most Popular Lending Content
Section 32 Loan Question
02/07/2005
Regarding Section 32...I received a definition that a purchase transaction includes refinances of purchase transactions. I cannot find this definition in the regulation. Is this correct?
Reg Z Section 32 Clarification Sought
02/07/2005
What is the actual rule about Section 32 Reg Z predatory lending? Does it only include all fees charged to the borrower, or does it also include any yield spread premium paid by the lender to the broker?
Is This an Illegal Kickback?
02/07/2005
Our bank is considering offering the following promotion to homebuilders that work with us. The program would work as follows: We make a "spec" loan to the builder and charge a $500 origination fee to the builder. Our promotion would state that if we get the permanent loan to the buyer (consumer) of that home, we would refund to the builder $250 of the $500 fee the builder paid to the bank. Is that an illegal kickback?
Rescission on 3rd Deed of Trust?
02/07/2005
We are providing a consumer loan to purchase a vacant improved lot (primary collateral). We will also be taking a 2nd deed of trust on the consumer's secondary residence and a 3rd deed of trust on the consumer's primary residence as additional collateral. Is a disclosure of the right to rescind mandatory for filing a 3rd deed of trust on a primary residence taken as additional collateral?
APR Tolerance/Redisclosure
02/07/2005
What is the percentage of tolerance for the APR on the initial TIL and the final TIL, assuming the final APR is greater?