Please explain the precautions which should be used when issuing a transferable letter of credit.
Why should we consider scanning documents before closing a commercial loan?
PMI Insurance, we are receiving contradictory views on how to complete the escrow block on the closing disclosure. What is your take on how the Closing Disclosure should be completed when the borrower is paying PMI and with no prepaid PMI?
Here is our problem. Our customer's house is barely in flood zone A but the insurance agent wrote it in zone X. The home equity loan is for $76,100 and the flood coverage is for $140,000. Are we ok or do I need to force place insurance in the correct flood zone?
Do we have to send a periodic statement on a closed-end mortgage loan on a dwelling, where both borrowers are now deceased and the property has gone thru a short sale and the remaining balance is charged off? We are currently not providing the "Suspension of Statements & Notice of Charge off".