Most Popular Lending Content
Managing CIP Without Discrimination
04/01/2005
In the world of compliance, we sometimes face requirements that appear contradictory, what we like to call dueling regulations.
Certificate of Non-Cancellation - Mary Beth Guard and John Burnett
03/28/2005
Certificate of Non-Cancellation
Answer by Mary Beth Guard and John Burnett, BOL Gurus
Guru BIOS
Business Loan CRA/HMDA Reporting
03/21/2005
Is a business-purpose loan that was secured by a 1-4 family dwelling HMDA- and CRA-reportable if that loan is refinanced under the 2004 rules?
HMDA LAR "Purchaser" Field Definition
03/21/2005
We are a correspondent lender who makes the credit decisions, or "institution." I am struggling with the LAR field "type of purchaser." We sell the servicing of our loans that ultimately go to Fannie, Freddie, Ginnie, etc. Do I break down the type based on our being an "institution"? Or just choose “other” for the type of entity that is retaining the servicing?
Advance Qualification of Loan Prospects?
03/21/2005
We are a mortgage outsource for a number of community banks. A loan officer (employed by a bank) would like us to obtain credit reports for a number of potential borrowers without any authorization or application. What is the proper compliance/lending regulation to follow?