We were told that the Supreme Court determined several years ago that Section 8 of RESPA is unenforceable?
A customer desires to purchase improved real estate. The acquisition price represents 91.7% of the purchase price and 78.2% of the "as is" appraised value. The borrower will pay for renovations out of pocket. Adding the cost of the renovations to the acquisition price would reduce the LTC ratio to 82.2%. Is it permissible to add the cost of renovations to the acquisition price to arrive at the cost of the property?
Can we provide football tickets to local realtors?
I have a commercial loan with collateral as "operating interest in wells." Do we need a mortgage, UCC or both to perfect a security interest in this? Also, is this collateral even considered real estate collateral?
We have been informed that marketing service agreements are illegal. We have a provider that is proposing a third-party agreement. He says this arrangement is not a marketing service agreement and is therefore legal. Your thoughts?