When is it not necessary to collect monitoring information, and when necessary?
We have continued a UCC one week and six months before the expiration date. How do we correct this? Our original UCC expires on January 2, 2002 and the continuation was filed June 28, 2001. I have never had this happen and wouldn't like to guess.
Our bank charges a non-refundable $350 mortgage application fee to all customers. If the loan is made, the settlement sheet reflects amounts paid outside of closing from this fee for the appraisal, flood report, and credit report. Recently, in a refinance situation, the borrower exercised his right of rescission and requested the return of his application fee. <a href="http://www.bankersonline.com/regs/226/226-15.html">226.15</a> and its <a href="http://www.bankersonline.com/regs/226/regzcomm.txt">commentary</a> indicates to me that we must return the whole fee. Is this correct? If so, are we ok in retaining the fee in a purchase application where the request is declined?
We have a real estate loan that is in the name of a Family Living Trust'. Now they want a home equity loan for that trust. Is there a problem with that?
Are attorney's fees considered a finance charge under Reg Z?