Most Popular Lending Content
Can we hold a drawing?
08/13/2023
Our Mortgage Loan Originator's want to hold a drawing at a local high school for a $20 back pack. Since the entries are from students under the age of 18, what do we need to require? Will we need parental permission to enter the drawing or only for the winner to claim the prize?
Benefits of connecting a loan imaging system to other lending tools
08/13/2023
Why connect your loan imaging system to other lending tools?
More Applicants than HMDA Allows
08/06/2023
We have loan that has three applicants. One will live at the property but has no credit. The other two had the credit and income. Since there are only two places to record DOB and Credit Scores for HMDA, which ones do you use?
Construction as Purchase Loan
08/06/2023
Would terming out a construction loan be considered a purchase on HMDA LAR?
New Flood Cert Required?
08/06/2023
How do other bank handle flood certifications on loans which are secured by an existing real estate mortgage on subsequent loans? For example: We do an original note secured by a mortgage. Two years later, the loan is refinanced, and new money is added. Do you require a new flood certificate for this increased loan? We do have life of loan on our flood certificates which notify of us flood map changes. We also have loans secured by GBSA (general business security agreement) as the main piece and real estate secondary. If our flood certificate is within 7 years and maps have not changed, do we need to do a new flood certificate? Can we just print out a section from FEMA's website as proof the maps haven't changed? We're trying to come up with procedures which keep us in compliance and uncomplicate the process we currently have.