03/13/2006
We want to start a promotion where we notify customers that they have been pre-approved for a Home Equity loan, what guidance can you provide and what regulation should I look at?
02/27/2006
We have been cited during a recent FDIC compliance exam for not including POC costs for hazard insurance and property taxes on the form HUD-1A, when the customer obtains a second-lien home equity type loan. We have never been written up for this before and the fees don't seem to fit in the categories provided on the HUD-1A. Are they really required to be listed?
10/17/2005
On a home equity loan can we have a client that has a revocable trust and their home is listed in their trust sign documents as trustees?
10/03/2005
Is there any federal law or regulation that prohibits the imposition of a late charge on a home equity line of credit? Assume, please, that state law would permit it.
09/19/2005
How do you tell if a loan is a HOEPA loan?
09/19/2005
How many home equity loans can one customer have on a single property?
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.
08/01/2005
Can our Lending department use a credit report from our mortgage department to offer a pre-approval Home Equity to a customer? Is there a section in the FACT Act that addresses this and can you refer me?
07/04/2005
Can you show insurance as "POC" on your GFE for a Home Equity Loan?
06/20/2005
We sent out a preapproval offer for a Home Equity Line of Credit, including the FCRA prescreen offer disclosures. The consumer calls and lets us know that he is now unemployed. He still meets the credit criteria we used to prescreeen him for the offer (his credit score is still good). Do we have to give him the HELOC? Or can we deny him because he no longer has the ability to repay the debt?