At what point can a late fee be assessed on consumer loans?
Who are the key stakeholders when it comes to deploying a loan imaging system?
New HMDA requirements include reporting an introductory rate period. The regulation tells us to report the number of months until the first potential rate change with fixed rates being reported a "NA". Does that mean on a daily variable loan (generally rental properties) we report a "1" since the rate could change in less than one month?
As long as the borrower signs their personal financial statement, is it OK for the lender to fill out everything else in their handwriting?
I remember being taught at a different job that a lender should never put their pen to the borrower's PFS. But as long as the borrower signs it then what is the harm?
It is my understanding that the HPML threshold for the rate spread is the same across the board; 1.5% for first liens and 3.5% for subordinate liens. As a small creditor, is there an exception that applies, making our threshold 3.5% regardless of lien position?
I found this in one of the answers within a forum and don't want to misinterpret it:
"As for the threshold for determining a higher-priced covered transaction, small creditors are unique in that they receive the 3.5% threshold for first lien small creditor and balloon payment QM's."
Is the 12 day waiting period before closing a Texas (50(a)(6)) home equity loan based on calendar days (including Sundays and holidays), or are the "calendar days" supposed to exclude Sundays and holidays? The rule wording just states 12 days so I am not certain.
What is the best way to deliver exception reports to lenders?
When considering new technology for credit origination, how can banks decide whether to build in-house or buy an existing technology?
Are Home Equity Lines of Credit included in the new loan originator compensation rules? If so, can an employer incent a loan originator based on the amount drawn versus the line amount?
What can traditional banks learn from alternative lenders?