Most Popular Lending Content
What "Note" Makes it HMDA Reportable
06/21/2004
I read "The Masses Are Still Confused on Refinancings" posted 6/7/2004 concerning when a renewal is a refinance. Our bank is located in Louisiana (yeah, the state that does everything different). We use collateral mortgages that are reusable. There are four documents involved is securing a loan with a collateral mortgage: the promissory note, the collateral mortgage, the collateral mortgage note, and the pledge agreement tying the collateral mortgage and mortgage note to the promissory note. I understand that if the "note" is replaced, the loan is reportable under HMDA. My question: Which "note"? - the promissory note or the mortgage note? If at the maturity date stated on the promissory note, we replace the promissory note (and the pledge agreement) but use the existing collateral mortgage and collateral mortgage note, is it a refinancing and therefore HMDA-reportable?
HOEPA Test for Denials
06/21/2004
If a loan is denied, before a HOEPA test has even been done or considered, does a HOEPA test still have to be done for HMDA?
FEMA makes flood hazard tutorials available online - Mary Beth Guard
06/14/2004
FEMA makes flood hazard tutorials available online
by Mary Beth Guard, BOL Guru
Guru BIOS
On mobile homes and flood insurance - Mary Beth Guard
06/14/2004
On mobile homes and flood insurance
by Mary Beth Guard
Q & A - Required Flood Insurance
06/14/2004