Most Popular Lending Content
Industry Standard for Documenting Joint Apps
02/09/2004
Reg B and Intent to Apply for Joint Credit Question. Thank you for the wonderful clarification with the article on Reg B Roundup. Our team and attorneys have discussed at length the best way to establish a person's intent to become jointly liable for a credit obligation at the time of application. This regulation change impacts products differently based on the product process but I’m particularly interested in understanding what other lenders are planning to do to satisfy this change when taking applications over the phone or internet. We are checking with other industry contacts. Do you have any more specific guidance on phone applications for consumer finance (Auto, unsecured)?
What is the definition of a manufactured home?
02/09/2004
What is the definition of a manufactured home?
Difference in Points and Origination Fees
02/09/2004
Is there a difference in points and origination fees? Should they both be reported on the 1098 tax form?
Timing on HOEPA Disclosures
02/02/2004
When disclosing a HOEPA loan we are required to provide borrower with HOEPA disclosures 3 days prior to closing the loan. If the loan has a 3 day right of recission, are we in compliance by disclosing at the time the loan is closed if funding of loan is not until 3 days?
Reporting HELOCs on HMDA Report
02/02/2004
When preparing the HMDA report and reporting HELOCs, do you report the total amount approved or the total amount the borrower has used?