01/17/2005
Regarding the Servicemembers Civil Relief Act: We received a request from a serviceman asking for the SCRA benefit on a loan; however, the loan is in the ESTATE of (I think) his father. I don't know if he is the executor or not. Would this person be eligible for the SCRA benefit if he is the executor? What if he assumes the debt?
12/01/2004
The U.S. Department of Justice is working hard at fair lending enforcement. This is not a concern that has faded into the background. Quite the opposite is true.
11/01/2004
On an interim construction loan for a home, if we charge an inspection fee and collect it up front, do we disclose this as a finance charge and affect the APR?
10/04/2004
If the bank agrees to fund a construction loan for 1-4 residential real estate without offering in-house permanent financing approval or having a permanent commitment from a mortgage broker, does RESPA require a GFE within the context of the 2-year temporary financing rule?
09/20/2004
If a commercial lender makes a loan for the purchase of a business and he/her takes a mortgage on both the new real estate being purchased and the purchaser's personal residence, is there a 3 day right of rescission?
09/20/2004
What fees are considered as pre-paid fees on a real estate loan and consumer loans?
09/06/2004
I'm working on a loan for a customer which has the customer's residence and 232 acres as collateral. This is for a business purpose. Do I have to have a residential loan application and a notice of right to receive a copy of an appraisal? Also, do I need the right to rescission, since the loan's purpose is for business?
08/16/2004
What is needed regarding a flood determination when a new loan is made, and the security on the loan is a previous, still existing, real estate mortgage on a home?
08/16/2004
We have several real estate loans that we are refinancing. The existing loans have escrows. The new loans will have escrows as well. What kind of a procedure do we need to go through to transfer the escrow balances to the new loan: Do we need to do a short year escrow analysis on the old loan and an initial escrow disclosure on the new loan?
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?