Most Popular Lending Content
Purchase Loan Financing
12/01/2004
Question: We are a little confused after talking with our examiner about the differences between a purchase money loan and a refinancing when the refinancing is of the purchase mon
CAC on Predatory Lending
12/01/2004
When it comes to predatory lending concerns, the Consumer Advisory Council has plenty to say. The pressure is still on the FRB to take actions to protect consumers from predators.
Rescission on Bridge Loans
11/29/2004
When providing a lot loan and construction financing, often we require a lien on the borrower's existing residence as additional collateral. Since the purpose of the loan is to purchase/construct a new home, is the loan subject to the 3 day rescission requirement due to the collateral lien on the old home?
HUD Instructions - Where Does the Point Go
11/29/2004
When the customer pays a point to reduce his rate, where should it be listed on the HUD Settlement Statement, as an origination fee or a discount fee?
If There is no Recorded Lien, is it a Refinance
11/29/2004
We have a contract payoff that we are currently processing as a refinance. There is no contract or deed recorded. Is this technically a purchase transaction? If not, does Rescission apply?