Most Popular Lending Content
Disclosure of Property Value instead of Sales Price
01/12/2020
When do we disclose Property Value instead of Sales Price?
Rules on Loan Modification on Real Estate
01/12/2020
What are the rules when doing a loan modification on real estate? This loan is secured by 36 acres of vacant land if that matters.
Who should be doing a loan closing?
01/12/2020
Who should technically be doing a loan closing?
Allocate Flood Coverage-Multiple Buildings
01/12/2020
How should a bank allocate flood coverage when multiple buildings are on one loan? Here is my example: 1-4 Residences and we need to start the 45-day process for building one. Loan balance: $800,000 Bldg 1: RCV = $235,000; with previous coverage of $250,000 Bldg 2: RCV = $275,000; with current coverage of $250,000 Bldg 3: RCV = $200,000; with current coverage of $250,000 Minimum required would be $685,000, which is bldg 1 = $235,000, bldg 2 = $250,000, bldg 3 = $200,000 If the $685,000 can be allocated any way, what amount would be used for building 1 so as to not be insuring too much?
Real Estate Property Taxes on Closing Disclosure
01/12/2020
I have a refinance loan closing and I have to pay the real estate property taxes that were due on 7/1- summer taxes. Where should I put them on the Closing Disclosure, In section F-prepaid or is it okay to put them in the payments and payoff section (page 3) on the CD?
