What are some common variables to include in our exception reports?
How is e-mail delivery for the disclosures considered as far as timing?
If we have a rate sheet that we give to real estate agents and our loan originators, but we know the true use will be for them to hand it to consumers or post it where consumers can readily access it, wouldn't we need to have the APR on it?
We have a loan that is paid to a $0 balance. However, there is a large sum of late charges owed. Can late fees be reported as a delinquent/past due status to the credit bureau?
It is my understanding that we have 30 days to notify the customer of our loan decision when denying the request. My question is, does the letter date have to reflect the same date of denial? I had a loan officer deny a mortgage loan within three days of application to avoid early disclosure requirements, but then the application was re-activated and the lender made a second decision with a later date. This second decision date makes the denial notice reflect more than three days from the application date. Any advice?