08/29/2005
I'm trying to confirm that if our affiliated mortgage company refers a customer to the bank for a HELOC, that we need to do the Affiliated Business Arrangement form? I know it is required for a Home Equity "Loan" referral, but want confirmation on lines of credit.
07/18/2005
What disclosures are required on an outside banner for a HELOC with an intro rate?
07/04/2005
We have been asked by a customer with a joint HELOC to "freeze" the line because he and his wife are getting divorced and he doesn't want her drawing against the line. Can either borrower make such a request and what are our obligations when receiving such a request?
06/20/2005
Can banks reduce or freeze a Home Equity Line of Credit's credit limit upon borrower's written request. After maturity date of a Home Equity Line of Credit can a Change In Terms be backdated to the maturity and therefore no disclosures or rights of rescission need to be given?
05/23/2005
Could you please tell me the criteria for the estimated truth in lending and good faith estimate and when it is required and when it is not?
03/07/2005
What criterion do you use in determining the maturity date of HELOC loans? Is it the closing date, or is the disbursement date the official standard?
01/17/2005
Can an applicant use a mortgage application for a HELOC, or is there a need to use a specifically designed HELOC application, and why?
01/17/2005
If a borrower makes a "face-to-face" application, do the early/predisclosure forms have to be given to them on that day, or do we have three days to mail them out to the customer?
01/17/2005
If the HELOC is closed simultaneously with the purchase money mortgage and the HELOC is fully funded at that time, my understanding is that it would not be subject to rescission. However, if a payment is paid on the line and later another advance is taken, is that next advance rescindable? Can the notice be given to the borrower at closing for future advances? Should specific language be in the disclosure noting that rescission does not relate to the initial advance?
11/15/2004
Have you ever heard that a bank cannot tie a 1st mortgage loan secured by a borrower's residence to Prime?