Most Popular Lending Content
Predatory Lending Practices Result in Large Settlement
03/21/2002
The Federal Trade Commission, in a press conference March 21, 2001, announced the details of a settlement entered into with First Alliance Mortgage Co.
COMMERCIAL LENDING 101 - Part I
03/18/2002
Commercial Lending 101 - Part 1
by Bob G. Hayes
RESPA: How do you provide full disclosure of third party fees when the amount is unknown?
03/11/2002
For consumer construction loans that are RESPA related, how do we complete the HUD 1 regarding full disclosure of third party fees, for example inspectors, if we close prior to knowing who will be performing the inspections?
Using Average Costs For Loan Fees
03/11/2002
When we close a loan on the mortgage side we charge a $30 credit report fee. The actual fees are between $16.50 and $50. We averaged our actual costs and came up with $30; therefore, we are charging more for some customers and lessfor others.My question is - is this practice permissible or do we have to charge actual costs? Can you point me in the right direction on this issue?
Single Interest Insurance Policy: Passing On The Premiums
03/11/2002
Our bank is interested in obtaining a blanket lenders single interest insurance policy. I would like information on what amount of the premium could be passed through to the consumer, and if that amount would be need to be included in the finance charge?