Most Popular Lending Content
What "Note" Makes it HMDA Reportable
06/21/2004
I read "The Masses Are Still Confused on Refinancings" posted 6/7/2004 concerning when a renewal is a refinance. Our bank is located in Louisiana (yeah, the state that does everything different). We use collateral mortgages that are reusable. There are four documents involved is securing a loan with a collateral mortgage: the promissory note, the collateral mortgage, the collateral mortgage note, and the pledge agreement tying the collateral mortgage and mortgage note to the promissory note. I understand that if the "note" is replaced, the loan is reportable under HMDA. My question: Which "note"? - the promissory note or the mortgage note? If at the maturity date stated on the promissory note, we replace the promissory note (and the pledge agreement) but use the existing collateral mortgage and collateral mortgage note, is it a refinancing and therefore HMDA-reportable?
HOEPA Test for Denials
06/21/2004
If a loan is denied, before a HOEPA test has even been done or considered, does a HOEPA test still have to be done for HMDA?
Is This HMDA Reportable?
06/21/2004
If a 2004 commercial loan is secured by residential real estate either as primary or secondary collateral is it HMDA and CRA reportable?
Reg. B - Complete Application
06/21/2004
I had an application sent to me from a dealer. The customer did not complete the address line. I notified the dealer that I needed that completed before I could look at the application. This was never done. How do I treat this application in terms of Reg B?
Does a Rescission Form Go To Each Person
06/21/2004
Can both parties involved in a loan sign the same receipt on the right of rescission, or do they need to sign separate pieces of paper?