Most Popular Lending Content
Exercising Rescission on Saturday
04/19/2004
A customer's right of rescission ends midnight Saturday. How can they effectively rescind on a Saturday?
Notice for Withdrawn Applications
04/19/2004
If a loan application is withdrawn by the applicant, is it necessary that we send out an adverse action notice? Currently we have been sending out this notice stating "customer withdrew application" and marking the FCRA notice disclosure inapplicable.
Posting the HMDA Notice for a New Reporter
04/19/2004
Our bank became subject to HMDA in 2003. When does the Home Mortgage Act Notice need to be displayed in the bank?
Advancing Loan Disclosures
04/19/2004
We use future advance deeds of trust for our real estate loans. How are the disclosures under RESPA and Reg. Z affected when the borrower comes at a later date for a loan secured by this deed of trust?
OCC Required Information, Mortgage Loans
04/19/2004
I'm in the process of completing an audit of the Fair Housing Act for a national bank. The OCC requires that "each bank shall attempt to obtain all of the information below." It then goes on to require a considerable amount of information in excess of the traditional government monitoring information (race, ethnicity, sex, marital status, and age). Is all of this information required to be on the application? Will the information (such as amount requested, interest rate requested, # of months to maturity, and proposed monthly payment) being in the loan file on some other document suffice? Also, does the fact that the application is partially completed suffice for compliance with the regulation for "attempting to obtain" the information?