Most Popular Lending Content
Fee for Verifying Tax Records
12/01/2003
Recently our bank began verifying tax records and the company being used charges a fee. This fee is paid to a third party and the bank does not retain any portion of the fee. It does not apply to customers whose income is verifiable by W-2 records but does apply to most of our other customers. The question is, should this $19.00 fee be considered as a finance charge under Reg. Z?
Fair Lending, Anyone?
12/01/2003
In spite of recent reorganizations that have reduced senior staff, the FDIC is creating a new job in regional offices.
Homeownership Counseling Notice on Repeaters
12/01/2003
We have a borrower that is frequently past due 30 days or more on her conventional mortgage. In all of the Homeownership Counseling material we've read, we can't seem to determine if the counseling letter is necessary every time the loan is 30 days delinquent or not. Is is like the Right to Cure, where it only needs to be sent once, or should it go out every time?
Pledging a Jointly Owned CD as Collateral
11/17/2003
When a Joint CD is used as a collateral on a loan must both parties pledge the collateral or is the one borrowing the money the only one necessary? If a loan is secured by a CD the has a POD on it must the POD pledge the collateral also for the loan?
HOEPA Triggers for 2004
11/17/2003
What is the total fee and point figure under HOEPA for 2004?