Most Popular Lending Content
Modifying Home Mortgage-Principal Reduction
09/23/2018
What are the rules for modifying a home mortgage loan to only lower a payment because the borrower made a significant principal reduction? He is not in foreclosure. Before TRID, we did modifications all of the time. Can you still do that? The rate and terms will stay the same.
"Life of Loan" Fee for Real Estate Tax Check
09/23/2018
Our state pays real estate taxes semi-annually. Can we charge a "life of loan" fee on consumer real estate loans for performing a real estate tax check? If we can charge such a fee, must it be incorporated into the loan origination fee (which we currently do not charge) or can it be a separate line item? If a separate line item, where does it get placed on the LE/CD?
Charging Fees for Credit Reports
09/23/2018
We are looking at charging fees for credit reports. We have never done this. How do we do this correctly? We are looking for any recommendations or guidance you can offer.
Providing Periodic Statements After HELOC Matures
09/23/2018
I have been researching an issue for my bank in regards to providing periodic statements after a HELOC matures. Are FIs required to provide periodic statements post maturity on HELOCs? The Promissory Notes clearly states that the entire loan balance (principal and interest) is due and payable at maturity. I don't see it necessary to continue to send monthly periodic statements and this has also added confusion to the client. I do not see that this is addressed within Reg Z. Am I looking in the wrong place?
Exempt Non-Depository Financial Institutions?
09/23/2018
Can mortgage lenders that are not banks or credit unions take advantage of the new partial exemptions?
