Most Popular Lending Content
RESPA‘s 25 Acre Exception with a Twist
04/24/2006
Regarding RESPA‘s 25 Acre Exception. Do the 25 acres have to all be on one deed or in one area? For example, what if I had 5 acres of land in 5 different counties?
Unsigned Commercial Loan Application
04/24/2006
Our loan officers frequently do not get a signed loan application on commercial loans. Do you know of any risk involved in not having one?
Does SCRA Apply to Employees of the Military?
04/24/2006
The SCRA defines active duty and who is covered under the act. Would you be able to clarify scenarios in which documentation requesting the rate discount protection is supplied by a someone who lists their employer as the military, yet provides copies of orders? Is someone employed by the military always considered active? How does the act define servicemembers under this scenario?
When is Proof of Flood Insurance Required?
04/24/2006
When is proof of flood insurance required on a residential construction loan? Would proof be required at closing, or when the structure is under roof?
Charging a Fee. How Do We Update the GFE?
04/17/2006
Currently, the appraisal fee for customers is paid by the bank, and disclosed as POC on the GFE. We will possibly be charging the fee for multi-family appraisals to the customer. How should the GFE be updated? Currently the GFE indicates Appraisal Fee #803 (POC). The fee will only be charged on multi-family/<WBR>investment properties. Also, in what time frame must the GFE be updated?