Most Popular Lending Content
Is a GFE Required if We Close Before 3 Days
06/21/2004
Does a Good Faith Estimate need to be provided when a residential real estate loan is closed within 3 business days of application?
RESPA Escrow and Excess Funds
06/21/2004
When we do our annual analysis and find out there are excess funds in an escrow account, can we apply the funds to payments that are delinquent? The accounts are more than 30 days delinquent.
What "Note" Makes it HMDA Reportable
06/21/2004
I read "The Masses Are Still Confused on Refinancings" posted 6/7/2004 concerning when a renewal is a refinance. Our bank is located in Louisiana (yeah, the state that does everything different). We use collateral mortgages that are reusable. There are four documents involved is securing a loan with a collateral mortgage: the promissory note, the collateral mortgage, the collateral mortgage note, and the pledge agreement tying the collateral mortgage and mortgage note to the promissory note. I understand that if the "note" is replaced, the loan is reportable under HMDA. My question: Which "note"? - the promissory note or the mortgage note? If at the maturity date stated on the promissory note, we replace the promissory note (and the pledge agreement) but use the existing collateral mortgage and collateral mortgage note, is it a refinancing and therefore HMDA-reportable?
HOEPA Test for Denials
06/21/2004
If a loan is denied, before a HOEPA test has even been done or considered, does a HOEPA test still have to be done for HMDA?
Is This HMDA Reportable?
06/21/2004
If a 2004 commercial loan is secured by residential real estate either as primary or secondary collateral is it HMDA and CRA reportable?