I have a business purpose loan to purchase commercial real estate. The client is allowing his home to be taken as collateral along with the commercial real estate. It's a first mortgage on the home. Could this be a HPML? Do any RESPA disclosures apply and is it HMDA reportable?
How is the best way to handle when a customer wants to term out a HELOC? Can it be accomplished by a modification or should it be considered as a new request? If new request would HMDA be applicable?
A seller is paying closing costs to the buyer. Do these closing costs need to be identified since some are APR fees and others are not? Can the lender issue a credit toward a portion of discount fees on the HUD1? Since origination and discount fees are APR fees, does the APR need to be reduced by the amount of the credit? Can the APR be over-stated by more than .125 since this is the borrower's benefit?
Should the costs the seller is paying show as prepaid finance charges for APR purposes on the TIL?
What disclosures are required when you convert a variable rate HELOC in default to a HELOAN (fixed rate) and then back to a HELOC (variable rate) after a specific length of time? Can you do this?
Are additional disclosures required if a lending institution elects to act as the seller of a repossessed automobile?
Assuming your interest rate is locked at application and your initial APR is below HPML trigger, if loan fees change causing the closing APR to increase (no change in rate) what APOR index date do you use to determine if you have an HPML? I understood it to be the date the rate is locked or set, but now I'm hearing you also have to verify the closing APR to see if you have a HPML?
I have a purchase money mortgage with a non-occupant co-signer. Can both parties sign one set of disclosures and one loan application or do we need them to each sign their own set?
On consumer real estate loans, when we have a tolerance issue between prelim disclosures to final documents, we have been providing a revised GFE at closing. Can you tell me if this is an appropriate way to handle this?
I know that principal dwelling on 25 acres or more is exempt from RESPA, but do you still consider it as a higher-priced mortgage loan under REG Z or can we treat it like a commercial loan?