Most Popular Lending Content
Does Rescission Apply to Pending Loan?
01/05/2020
We have a consumer real estate construction to permanent loan pending. Does rescission apply?
Construction Loan Sample Forms
01/05/2020
Has the CFPB provided sample forms for construction loans?
Loan Payments which Exceed What is Currently Owed
01/05/2020
How is a bank supposed to handle loan payments which exceed what is currently owed?
Lender Credit Due to Charge for Transfer Taxes
01/05/2020
A residential mortgage disclosed a lender credit for $200 due to a charge for transfer taxes. At closing the $200 charge was no longer applicable as mom and dad remained on the title. As a result, the title company took away the $200 fee that they had disclosed on their estimated statement and said the charge wasn’t applicable any more. Is the Bank is still responsible for issuing the lender credit of $200, although the corresponding charge has gone away?
Reg Z Ability to Repay-ARM
01/05/2020
Our bank is looking into offering mortgages with an initial fixed rate, short term loan (5-7yrs) with a balloon payment, then financing the balloon balance into a longer term (20yr) ARM. Can we do this without determining Ability to Repay for the initial short term portion? Also, would this be dependent on if the bank is considered a small creditor and serves only rural or underserved areas?
