What is my best source to locate the exact disclosures and agreements that lending customers must be given and or signed to be in compliance?
We are third-party appraisers. We saw something that we have never seen before. We have a bank that is charging a customer $3000 for a commercial loan appraisal, while we were charging the bank $1800. At the very least we thought there should be some sort of disclosure that there is fee income to the bank in that pricing structure.
This is a commercial loan, not a consumer loan. We are aware that the disclosures do not apply for many items, But should not fee income to the bank, versus a actual pass-through fee be shown?
Do we have to provide the appraisal disclosure for loans denied within 3 days?
Are the seller-paid real estate agent commissions required to be disclosed on the Closing Disclosure?
Is the Kentucky Insurance Disclosure required on all loans, consumer and commercial, or is it just a consumer (Reg Z applicable)
When making a RE loan on unimproved land is a FACT disclosure required?
I have a borrower who is using a CD as security for a loan to purchase a vacation home. What if any disclosures are needed?
Are there set rules on the Cash to Close changing from the LE to the CloD? For example, borrower requests a cash out refinance. The LE discloses in the Cash to Close section that they will be receiving $50,000. We find out prior to closing they want to pay off a loan and receive the leftover money at closing. So the money to the borrower has drastically been reduced. Are the changes in cash to close regulated by certain guidelines?
How do lenders disclose specific Lender Credits on the Loan Estimate? My bank does NOT offer GENERAL lender credits for secured home improvement loans but we do not charge the borrower for a title search ($60) or for a flood report ($10). Which of the following ways do we disclose such SPECIFIC credits?
(1) The bank should itemize these fees on page 2 of the Loan Estimate and then show a Lender Credit of -$70 to offset these fees. Later, the Lender Credit row on the Closing Disclosure will be blank since these two specific credits would show under the column "Paid by Others." Thus, Lender Credits will be -$70 on the Loan Estimate but later blank on the Closing Disclosure.
(2) Since these two lender credits are specific and are equal to the fees the bank pays to the title company, the two fees would NOT appear on the Loan Estimate and Lender Credits would be blank on the Loan Estimate. However, the Closing Disclosure will itemize these two fees as "Paid by Others" with the Lender Credit row on the Closing Disclosure being blank.
(3) Some other way instead of option 1 or 2.
Can a borrower waive the 24 hour in advance rule in receiving a HUD 1a prior to closing a home purchase?