Can a home equity line of credit be calculated on a 360/360?
When debt consolidation loan is disbursed, can you make it a loan condition to have any credit card accounts be closed?
What makes a real estate or home equity loan fall into a HOEPA reg?
HMDA Refinance - We had a HMDA data integrity review recently and the examiner stated that a loan cannot be recorded as a refinance unless the funds originally went to purchase the home. She referred us to the OCC HMDA handbook for guidance regarding refinancing. I question if the interpretation is being confused by the definition of coverage vs. reporting. In looking at the FFIEC/HMDA FAQs one example is where a home equity line of credit with a junior lien is converted to a term home equity loan. Would this not be reportable for HMDA as a refinance?
Can we do a change in terms for a consumer variable rate interest only home equity line of credit product that has NOT matured (matures 2016)and change it to a closed end fixed rate P&I payment product for 5 years to mature in 2017?
We currently have Home Equity Lines of Credit (open ended) that have floor rates of 6.00% and 7.00% and we would like to reduce these to our new floor rate of 4.25%. I know under Reg Z Section 226.5b (f) it states we can make a change that will unequivocally benefit the consumer throughout the remainder of the plan. With that being said what type of documentation and disclosures must be given in order to stay in compliance with the regulators and terms of the loan? We want to ensure that if we do a modification agreement on the HELOC we do not need to redisclose on the loan.
Do high price mortgage regs apply to construction line of credit loans?
We are terming out one of our matured home equity lines of credit and paying off this loan to do a fixed-rate closed-end consumer loan on the balance owed. Are we required to provide a HUD-1A settlement statement or can we prepare a simple closing statement? A GFE was provided after application.
Is a HELOC subject to any of the waiting period restrictions imposed by reg Z as of 7/2009?
How long do you have to have ownership on your primary home to apply for a home equity loan in the state of Texas?