Does disclosing a service provider as a "borrower" or "customer of the bank" on the HUD 1 present a privacy issue? It just doesn't seem right. If they are both a frequently used servicer and a customer must we list both?
I need a complete copy of what Reg H says, is there a Web site that will give me details of each regulation or some other place I can look?
We have an elderly man who has contacted us about a loan. When he first came in "to see" if he could get the loan, the lending officer wrote at the top of the application that he would be coming back in 'if he remembered'. In the meantime, his daughter called and said that he was not mentally fit and requested that we not lend him any money. When he came in the next time, his mind seemed pretty clear this time. His payment history is good with us, and he could afford a small payment. Can we refuse the request due to the daughter's request and his mental capacity from the first visit, with violating Fair Lending? I told our lenders to be careful, we are not doctors to determine his mental ability and also would his daughter be willing for us to check on the denial "Information received from another source" if we did refuse him.