10/20/2003
I was wondering what is the proper line to disclose on a HUD settlement statement the amount of money recieved by a lender to a broker? Would it be considered an origination fee since it is a fee related to the borrowing of the funds?
09/29/2003
For the upfront lending disclosures (e.g., Servicing Transfer Disclosure, ARM disclosures, etc.) for which the Bank is required to keep a customersigned acknowledgement of receipt, can the Bank substitute a "Disclosure Acknowledgement" form which the customer signs acknowledging receipt of all the disclosures? Or do the regulations require that the disclosures be individually signed?
09/15/2003
I noticed comment in Memorandum for update pages in a Mortgage Lending publication the following:"Several U.S. Circuit Courts of Appeal have disagreed with the Department of Housing and Urban Development (HUD) on whether mark-ups of third-party charges are violations of RESPA. For example, may a lender pay $15 to a credit reporting agency for a report and then charge the customer $30 for the report at closing and keep the $15 difference? HUD has said this would be a violation of the Real Estate Settlement Procedures Act (RESPA) and several courts have disagreed." Do you have any information concerning these court findings? Can this be done with this 3rd party charge or any others? Example; Could we charge for "payment coupon books" related to a mortgage loan payment?
08/18/2003
How long must HUD escrow accounts be kept and is computerized storageokay?
06/01/2003
The current brouhaha over the RESPA servicing transfer notice brings to the front burner a common question: what is the difference between a law and a regulation. The corollary is: why do we care?
04/28/2003
02/01/2003
As we begin a new year, it is tempting to provide New Year's resolutions that we think others - such as Congress - should make to improve the compliance world in which we work.
02/01/2003
The Comptroller of the Currency has put forward a revolutionary idea: consumer disclosures that are easy to prepare and understandable to consumers. What a novel concept.
11/18/2002
Do you have a sample form for the notice HOUSING AND URBAN DEVELOPMENT ACT for past due mortgage loans?
10/21/2002
Can you tell me where to find a good accurate Homeownership Counseling Notice?