Most Popular Lending Content
Help on ARM Disclosures
01/03/2005
I am trying to figure out the payment stream on a 5/1 ARM. I disclosed the first 60 months based on the original contact rate. Are the remaining payments based on the current index plus the margin for the balance of the term of the loan?
Underdisclosed PMI
01/03/2005
What tolerance is there for TIL errors? If a mortgage loan has already closed, and the bank made an error and underdisclosed PMI, can we redisclose and correct the payment, or should we bite the bullet and self-insure for the difference?
The Ins and Outs of Credit Scoring
01/01/2005
It is talked about in many contexts. It is a term tossed about without clear definition. It engenders fear and caution among lenders. It raises compliance concerns.
GFE Requirements
01/01/2005
Question: We originate investor mortgages on 1-4 unit owner occupied properties. One of our investors is asking for a Good Faith Estimate within 3 days of the Credit Report.
Information Security: FTC Action
01/01/2005
Banks and thrifts are not alone when it comes to requirements to maintain security for customer information.