Most Popular Lending Content
Rescission on a Business Loan with a Home
09/20/2004
If a commercial lender makes a loan for the purchase of a business and he/her takes a mortgage on both the new real estate being purchased and the purchaser's personal residence, is there a 3 day right of rescission?
Pre-Paid Finance Charge
09/20/2004
What fees are considered as pre-paid fees on a real estate loan and consumer loans?
What is Temporary Financing
09/20/2004
Under the new HMDA revisions, is there a good definition of "temporary financing"?
Interest During Rescission
09/20/2004
On a Freddie Mac refinance of a primary residence where there is the right of rescission; if the loan closes near the end of the month, and the rescission period goes into the next month, (closes 4/28/04 and the rescission date is 5/2/04) is it correct that the customer can only be charged interest from the rescission date (5/2/04) and not the closing or note date? Therefore, the customer would be charged interim interest from 5/2/04 to 6/1/04 and the first payment date would be 7/1/04 due to the fact that all Freddie Mac loans have payments due on the first of the month. Is this correct?
Signing for Credit Ins When There Is No Credit Ins
09/20/2004
Do we have to have the customer sign the credit life portion of the loan document regardless if they choose to purchase credit life or not?