Most Popular Lending Content
Related Law Firm and Mortgage Company
11/15/2004
I am an attorney in Florida. I own a mortgage company and a law firm that provides title insurance and closing services. The mortgage company refers title work to the law firm. Does this situation fall within the purview of disclosure, and if, so, exactly what charges for services have to be disclosed?
Fee for Force-Placed Flood Coverage
11/15/2004
Are banks allowed to charge a fee (say $25) for doing force-placed flood insurance? The regulation reads "The bank may charge the borrower for the cost of premiums and fees incurred in purchasing the insurance." Does this mean only direct fees? Also, can this fee be recurring, say monthly or quarterly?
Do We HUD-1 This HELOC?
11/15/2004
HELOCs subject to Section 226.5 of Regulation Z do not require a GFE or HUD-1. However, if our customer is using a closed end first mortgage and a simultaneously issued HELOC to purchase a home, do we need a separate HUD-1 for the HELOC?
Retaining Construction Advance Documentation
11/15/2004
In commercial construction loans, once the construction is complete and you have received the Certificate of Occupancy, how long should you retain the construction advance information (photos, memos, advance request forms)?
RESPA & Vacant Lot Mortgages - Mary Beth Guard
11/08/2004
RESPA & Vacant Lot Mortgages
Answer by Mary Beth Guard, BOL Guru
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