Most Popular Lending Content
Is a wheel-spin game allowed?
08/15/2021
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.
Notice Letters
08/15/2021
What are notice letters?
Tolerance Violation-Recording Fees
08/15/2021
If Recording fees were not disclosed on the Loan Estimate, but these fees were charged on the Closing Disclosure, is this a tolerance violation if the accumulative total does not exceed the disclosed fees for the 10% category?
Rate sheet content
08/08/2021
If we have a rate sheet that we give to real estate agents and our loan originators, but we know the true use will be for them to hand it to consumers or post it where consumers can readily access it, wouldn't we need to have the APR on it?
CD Issued More than 3 Days Prior to Closing Date?
08/08/2021
Is it permissible to issue a closing disclosure to a mortgage borrower more than 3 days prior to the closing date?