Is a PMI Disclosure Required for 2nd Homes?
Is the Notice of Right to Receive Appraisal Copies required on 2nd liens?
When a consumer comes in and rewrites a loan, with no new money advanced, are you required do to a new application or Reg B form?
Are initial disclosures required to have the borrower(s) signatures prior to going to underwriting for initial review? I understand that the loan
estimate and 1003 need signatures but what about the other initial disclosure documents i.e.: toolkit, counseling forms, servicing disclosure,
AfBA, FACTA, Privacy, Patriot etc..
On a consumer real estate ARM loan, the loan just adjusted. The officer is requesting to modify the loan and change the index, margin, and adjustment period. The request is primarily due to competitive reasons. Can we change the index, margin, and adjustment period without having to do disclosures?
HELOC's primary residence upon maturity and the applicant wants to renew the loan for another term. No new funds same type. What disclosures are required?
For HELOC early disclosures (ex. appraisal notice, consumer credit score disclosure, acknowledgment of receipt of counselor list, home equity application disclosure,) is the borrower required to sign these forms to acknowledge receipt, or can we have copies and a letter listing them out as proof in the file that they were delivered?
Do Home Equity Disclosures have to be updated with the change in the index rate or do you just do one annually?
If we increase an overdraft line of credit (unsecured) limit, what documentation do we need? Does the customer need to sign anything? Do we have to do a whole new loan or just document it in the file?
I have a borrower who wants to pay off credit card debt with a consumer loan from our institution. The collateral in this case would be two vehicles and I would like to reference an existing mortgage that is on a rental property (owned by my borrower's father.) The borrower is not the owner of the RE 1-4 family rental property. What RE disclosures do you see need to apply?