04/30/2012
I have a question regarding correct filing requirements for perfecting a security interest. The company is incorporated in Delaware and they are registered in Virginia (not domesticated). Our collateral is not real estate and is not farm/timber related collateral. Do we file in both Delaware and Virginia?
04/30/2012
How do we calculate DTI on a consumer real estate purchase loan, when the borrower also has 5 rental properties in his personal name?
03/12/2012
We have a loan secured by commercial real estate that was for businesses expenses. The loan is in default and we have discovered that they had been assessed a late charge on their past due payments. Our loan documents do not indicate a late charge will be charged, we backed out the late charges, which were never collected but our attorney is worried that the late fee could be considered usurious and that we could have violated the DTPA. Is there a period of time that you can cure this? Will this impair our ability to foreclose if it goes to court?
03/05/2012
We have a loan secured by commercial real estate that was for businesses expenses. The loan is in default and we have discovered that they had been assessed a late charge on their past due payments. Our loan documents do not indicate a late charge will be charged, we backed out the late charges, which were never collected but our attorney is worried that the late fee could be considered usurious and that we could have violated the Deceptive Trade Practices Act. Is there a period of time that you can cure this? Will this impair our ability to foreclose if it goes to court?
02/27/2012
Is there a required number of days to wait to close a real estate transaction on a primary residence?
02/20/2012
I have a couple questions for my RE loan checklist. 1st question: on a Real Estate TIL, should we disclose the total sales price? If it is to be disclosed, where does it appear in the document? We show it in the HUD but does it also belong in the TIL? 2nd question: on the question "is the aggregate adjustment on HUD-1 correct" how do I calculate (or know) what it should be?
01/16/2012
What is the maximum number of days to go out for a first payment due date on a principle dwelling real estate secured loan?
01/16/2012
We have an ongoing disagreement in the office concerning the proper credit bureau reporting of loans, auto and real estate, that are taken out by individuals but are used for business purposes. Do we report these as loans made to the individuals or not report them at all because of the business purpose?
01/16/2012
Do the provisions of the Servicemembers Civil Relief Act on maximum interest rate apply to a service member's non-owner occupied 5-family rental property?
01/02/2012
Can you tell me anything about buying and selling real estate loans. Is this covered under a regulation or is this a legal matter?