Most Popular Lending Content
HMDA Revision of Definitions/Rules
03/01/2004
At a HMDA seminar last fall the speaker stated that due to the wording of the new rules for a refinance, the refinance of a 25+ acre farm will no longer be exempt from HMDA. He stated that they would probably correct it, but I haven't heard anything. Do you know if it is or is not reportable now?
Burden Relief?
03/01/2004
In the process of reviewing regulations to identify candidates for regulatory burden relief, the banking agencies have come around to the consumer protection list.
Attorney Selection Based on Who Is Paying
03/01/2004
Can a seller of a property who is paying any portion of the closing cost force the purchaser to use an attorney that they, the purchaser, don't want?
Temp Loan to Rehab Property: HMDA Reportable?
02/23/2004
Scenario: A customer has come in to request a loan to purchase and rehab a single family residence. It's secured by the first lien deed on trust on the home on the property. The loan is for 90 days. After the repairs are complete, the borrower will then pay the loan through personal, permanent loan on the property. Is this HMDA reportable?
Definition of Bring-Down Fee
02/23/2004
What is a "bring-down fee?"