Most Popular Lending Content
Disclosing the Military APR
10/29/2023
Do we have to disclose the actual MAPR to all borrowers?
Loss Mitigation Notices
10/29/2023
We have determined that it is appropriate to inform our borrowers of HELOCs nearing maturity about the availability of loss mitigation options. These borrowers are typically not past due, but we follow 1024.39 - Early intervention requirements for 180-day and 120-day timing for live contact and Written Notice. Is the Written Notice required to include all 5 items (1024.39(b)(2)) even though the borrower is not past due?
Proof of Earnest Money Payment
10/29/2023
Would there be any compliance requirements to collect a receipt or a copy of a check for earnest money for purchase transactions, or would this be a secondary market requirement?
Social Media and Ad Disclosures
10/29/2023
Posts on the bank's social media (Facebook) that mention "our residential lending team" but include no mention of rates, terms, etc., do we need to include our NMLS number and EHL logos?
New Loan - HMDA Reportable?
10/22/2023
The situation - Grandparents are purchasing a house for their grandchild. Collateral - Grandparents farmland not located where house is. Question - Is this HMDA reportable? No mortgage being taken on purchased house, only the farmland.