Most Popular Lending Content
Including appraisals in complaints tracking
12/31/2023
How would our complaints program be utilized to capture information related to appraisals and fair lending issues?
Re-disclosing Locked Rate Based on Prime
12/31/2023
The initial and locked Loan Estimate (LE) on an ARM loan was based off the WSJP index. When it was time to issue the initial Closing Disclosure (CD), the WSJP index had increased causing the APR on the CD to be about 1/2% higher than on the last LE. Should we adjust the index value on the CD to match the index value used on the LE to keep the APR within tolerance, or do we need to update the index value to the current value and redisclose the LE and then inssue an initial CD?
Corp. Entity Changes - Modify Loan?
12/31/2023
If a customer changes from a Corporation (Inc) to an LLC do new loan documents need to be prepared?
LTV on a Lease Assignment
12/24/2023
When securing a loan with an assignment of leases and rents, how much could be advanced compared to value of the lease assignment? Is there any "standard" which is acceptable?
Reasons for Denial and Joint Applicants
12/24/2023
When sending an adverse action letter for joint applicants with different reasons for denial, can I use two letters (one for each applicant) for all denial reasons combined?