Most Popular Lending Content
Scope of Fair Lending Cases
10/20/2019
Fair lending is a mortgage lending issue. Correct?
No Loan Amount Obtained – How to Report
10/20/2019
What do we report for Loan Amount if an application is taken, under our financial institution’s definition of HMDA Application which does not include a loan amount, and the applicant withdraws or the lender denies before we have a loan amount?
Flood Insurance for 2 Properties
10/13/2019
We have a loan with two properties. One is a flood zone and one not in. The value of the property in a flood zone is $50,000. Can we require flood insurance only on the amount of the property that is in the flood zone or do we have to get flood insurance to cover the entire $250,000.00 loan balance?
Initial Disclosures Before Underwriting?
10/13/2019
Are initial disclosures required to have the borrower(s) signatures prior to going to underwriting for initial review? I understand that the loan estimate and 1003 need signatures but what about the other initial disclosure documents i.e.: toolkit, counseling forms, servicing disclosure, AfBA, FACTA, Privacy, Patriot etc..
Docs to Verify Income or Tax Returns Required?
10/13/2019
We have a married couple wanting to fill out a home loan application. They state that they do not have any copies of their tax returns. Can we use the other documents to verify income or are the tax returns required?
