Most Popular Lending Content
Locating the FCRA
01/07/2002
Where can I find a current copy of the Fair Credit Reporting Act online?
Is a TIL Disclosure Required?
01/07/2002
Are we required to give a TIL disclosure on a 9 month interest-only draw down credit line for new construction with no committed end financing (we do disclose at time of application). The loan is a 9 month interest-only payment and matures without a PandI payment made. There is no final closing; the loan is paid off by another lender.
The Scoop on the Equal Housing Lender Logo
01/07/2002
A question posted earlier asked for a site for the Equal Housing Lender logo. The questioner was directed to the HUD site. That was a good thing to know except that the only logo there was for Equal Housing Opportunity. Do you where to get EH "LENDER" logo and its usage information?
Application of Extra Principal Payments
01/07/2002
When making an installment payment on a 2nd mortgage, can I specify that any extra payment amount, let's say $50.00, be applied to the principal and not against the next month's payment? Is the bank obligated to apply this extra amount of $50.00 against the principal if I request it to be done that way?
Adding PMI to a Note
01/07/2002
Without violating Truth in Lending, can a bank add mortgage insurance to a note. Does it matter if interest accrues on this amount.