If the borrower receives funds as the rep payee for his disabled brothers, can that money be counted as income for the borrower when completing underwriting?
Hasn’t military lending been quiet this year?
Can an individual loan accommodation for a personal, family or household purpose to an existing borrower with other business loans be considered non-consumer?
We have a purchase mortgage application that was approved with all underwriting conditions met. In review of the title run it was discovered the seller could not convey a clear title to the property. We did send the borrower a Notice of Action for Incomplete Application giving 10 days for clear title to be received. For HMDA purposes would the Action Taken be Approved Not Accepted or Denial?
What is an exception comment?