We are doing a second mortgage where the first mortgage is already in escrow. 1.) Should we disclose the estimated escrow on page 1 of the Loan Estimate with No for being in escrow or should we completely leave them off since the borrower is already in escrow. 2.) On Page 4 of the Closing Disclosure how should we disclose here as well, and if we select no escrow, our only options are because the customer declined it or your lender does not offer one. Neither of these fit our situation because the customer is already in escrow with us, so they didn't decline it nor did we not offer one.
Should we have one or more employees that are designated to handle all customer complaints? Should all complaints be referred to them no matter who initially receives the complaint?
Should a ITIN form be in a loan file?
On a Deed of Trust-secured loan, hazard insurance is in the name of the lessee, loan is in the name of the property owner. Do we need to add the property owner as an additional insured or an additional interest?
With the new rate spread calculator, I am wondering if the APOR spreadsheet will it no longer be updated with each Monday? Also, I am getting conflicting answers within the forum: as a small servicer, is there an exception to the threshold of 3.5% on first liens or does the rule apply across the board whether you are a small creditor or not: 1.5% for first lien and 3.5% for subordinate liens to determine the HPML status?