Most Popular Lending Content
Difference Between Act and Regulation
04/05/2004
Can you please tell me the difference between an Act and a regulation? And is a law different than a reg or act? For example, Regulation DD is for Truth and Savings, but there is also a Truth and Savings Act.
ARM Disclosure Update Date
04/05/2004
We sell as a correspondent lender to many investors. Most investors do not update their ARM disclosures at the beginning of the year. When do the examples on the ARM disclosures have to be updated?
Credit Card Offset
04/05/2004
Do we have the right of offset from a checking or savings account to collect on a past due/charged off credit card?
HMDA Occupancy Code Non MSA Property
04/05/2004
Should we be reporting a HMDA code "3" in the owner occupancy category when the property location is not in an MSA, or can we report a "1 - owner occupied" or "2 - not owner occupied"?
Prepaid Charges Affecting the APR
04/05/2004
If fees are marked POC on the HUD-1, fees that are NORMALLY considered prepaid items...do they need to come out of the amount financed and affect the APR? We have brokers and customers that do not want POC items that are prepaids to reflect in the APR.