What is the minimum age a person can be to be a member of an LLC and if it is less that 18, does it impact that persons ability to borrow on behalf of the LLC?
Given all other HMDA reporting criteria being met, would a bungalow colony be considered HMDA reportable?
For banks that provide combined ECOA-FCRA disclosures, is it standard practice to “Check the 1st Box” and provide FCRA credit score information if the decline reason is not based on the consumer report, but some other factor? (i.e. insufficient collateral, product not offered, out of lending area) Do other banks do this? We understand that we do NOT have to “Check the 1st box” and provide credit score information if it was NOT used in making the adverse decision, but what would be the risk to provide this information in the above cases?
Is flood insurance compliance complicated?
Can a Home Equity Line of Credit be done for a borrower who has PMI insurance on their first mortgage?