Most Popular Lending Content
Appraisal Fees on Construction Loans
12/15/2003
Is it possible to charge an appraisal fee on a construction loan and the fee not be a finance charge? If I understand correctly, appraisal fees are excluded from the finance charge if the appraisal is done before closing. However, on a construction loan, an appraisal cannot be done before closing.
Dating a Rescindable Loan
12/15/2003
If a bank makes a loan that requires a notice of right of rescission, should the "contract date" on the bank's computer system be the date the contract was completed, or the date when the rescission period ended and the funds were disbursed?
Mortgage Referral Fee Paid to Employees
12/15/2003
Can we pay a $50.00 referral fee to our employees for referring customers to our mortgage department? The fee would be conditioned on if the loan closes. These mortgage loans are sold to the secondary market and are table-funded.
Clear & Conspicuous: A Federal Reserve Standard for Disclosures
12/01/2003
We saw it coming. When the privacy regulation was promulgated, the agencies had to set standards for notifications.
APR Calculation on a Construction Loan
12/01/2003
How do you disclose and perform the calculations for APR for a construction loan?