Have a couple of questions regarding farmland.1. What is the supervisory LTV limit on farmland?2. Is farmland with ongoing farming operations considered to be improved property?
Mortgage loan application, joint applicants are husband and wife. The wife is the Attorney In Fact for husband and both own the real estate. Who should CIP data be collected on? Attorney in Fact?, both?
Does an in-house real estate modification require a HUD1a or can we use our own simplified settlement statement?
We have a residential (investment) real estate secured loan with the purpose being to reimburse the borrower for PREVIOUS purchase and PREVIOUS improvements of the property. We are debating over whether it is or is not reportable. What do you think?
I have an existing mortgage on land. We are disclosing a construction loan. Should the security interest description in the fed box show purchase money AND real estate or simply real estate and does that really matter. The assumption clause is there either way.
What makes a real estate or home equity loan fall into a HOEPA reg?
We have a member who recently passed away. There is a beneficiary on the account. However, we have loan. Do we have the right to offset?
The Fair Credit Reporting Act requires that each applicant (assuming there is a co-applicant) receive an FCRA adverse action notice in the event of an adverse action. Assume that there is a joint application for an installment loan, not secured by real estate (auto loan for example). The loan is denied because after a review of the credit reports of both applicants, the primary applicant previously filed for bankruptcy and the co-applicant has delinquent obligations with creditors. Should each separate notice provided to the applicant and co-applicant only list the reasons specific to their own credit history? In other words, should the applicant's notice only reference the bankruptcy and the co-applicant's notice only reference the delinquent credit obligations? My reasoning for feeling this way is that 1. it protects the privacy of the applicant and co-applicant and 2. it will better inform the applicant and co-applicant of what specific reasons were used in their denial so that each individual may correct them in order to secure the credit in the future. I understand only one would need an ECOA notice but my concern comes specifically from FCRA notice requirements.
Can a real estate loan be renewed with force-placed flood insurance, as opposed to customer provided flood insurance coverage?
Concerning a loan application for real estate and consumer loans, for what period is the loan application valid and when is it considered stale and must be redone?