Are payments received on Saturday required to be posted on Saturday ?
Does a HELOC have to have a repayment period?
A PMI disclosure is not required for a second home. However, our secondary market guidelines state that a disclosure is to be given with a loan which has PMI. It doesn't state whether it is a first or second home. Our LOS will not produce a disclosure, stating that it is a second home. How would the customer know when they can cancel the PMI if they are not given a notice?
Is it possible for a small bank to receive an Outstanding rating?
Our account agreement states that the balance to which the finance charge is applied is determined using the daily balance method. Our core system calculates the balance suing the average daily balance method. Which one is correct?