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Latest Lending - Equal Housing Topics

EHL Symbol Required on Social Media Post?

07/04/2021

We are an FDIC regulated bank. If we post a picture on social media of customers that have just closed on a home loan, and we are congratulating them, is it necessary to include the EHL symbol or can we just have the EHL words included in the post?

ECOA Requirements for Conditional Approval Letter

01/01/2017

I am trying to find out what the federal regulators would require we have on a Conditional Approval Letter issued to a borrower. Like the FDIC logo, Equal Housing, etc. What does ECOA require be on this letter?

Logo on Adverse Action Notice

03/28/2011

In order to comply with Fair Housing Lender requirements, is the lender required to include the Equal Housing Logo on the Adverse Action Notice form?

Lending Production Office, FDIC Signs Required

05/24/2010

We have several loan production offices. They don't have cash drawers, are not listed as branches, and they don't service the deposit customer walking in off the street. Do we need signage such as the FDIC stickers? What if a courier for the bank picks up some proof work where only our employees make deposits instead of running to a branch?

Print Ad - Mortgage Lending Compliance

09/21/2009

One of our mortgage lenders would like to place an ad in the classified portion of the local newspaper. The ad reads: Have you filed bankruptcy or had your home foreclosed on in the past two years? Call [name] to get your credit checked. You may be eligible to purchase a home. Numerous programs available to be a homeowner again. Then she lists her name and cell phone. The bank is not mentioned. Does it need to be? Would this ad be considered compliant? What would make it compliant? Is this a bad idea?

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Using the EHL logo

08/01/2021

We include the Equal Housing Lender logo in all our home loan ads. Are we also required to include the “Equal Opportunity Lender” logo?

New Construction Realtor Referral Fee

08/01/2021

It has just come to our attention that we have a consumer construction loan and on the cost breakdown there is a line item labeled "New Construction Realtor Referral Fee." The Realtor is charging a 1.5% referral fee for referring the contractor to the borrower. The contractor is charging the borrower for the fee. Is this a violation of RESPA Section 8? Contractors are never mentioned in section 8, but Realtors are. This is apparently happening more than we knew, but the fee is generally wrapped into the builder's fee and not its own line item, so the bank was not aware of the problem.

New Construction Realtor Referral Fee

08/01/2021

It has just come to our attention that we have a consumer construction loan and on the cost breakdown there is a line item labeled "New Construction Realtor Referral Fee." The Realtor is charging a 1.5% referral fee for referring the contractor to the borrower. The contractor is charging the borrower for the fee. Is this a violation of RESPA Section 8? Contractors are never mentioned in section 8, but Realtors are. This is apparently happening more than we knew, but the fee is generally wrapped into the builder's fee and not its own line item, so the bank was not aware of the problem.

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