Most Popular Lending Content
Temp Loan to Rehab Property: HMDA Reportable?
02/23/2004
Scenario: A customer has come in to request a loan to purchase and rehab a single family residence. It's secured by the first lien deed on trust on the home on the property. The loan is for 90 days. After the repairs are complete, the borrower will then pay the loan through personal, permanent loan on the property. Is this HMDA reportable?
Definition of Bring-Down Fee
02/23/2004
What is a "bring-down fee?"
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
02/23/2004
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
Evidencing Joint Application Intent on Biz Loans
02/23/2004
Has anyone seen a form to be used for business credit indicating applicants' intent to apply jointly? Secondly, why doesn't the updated Fannie Mae application have such questions?
Do Commitment Letters qualify as a Preapproval?
02/23/2004
Although we have no formal Preapproval program, we do have mortgage loan officers that will provide commitment letters to an applicant if requested. Does this qualify as a Preapproval?