Most Popular Lending Content
HELOC Conditional Approval Based on Income
02/20/2022
When there is conditional approval to an applicant for a HELOC based on stated income, but the applicant hasn't provided any of the requested documents to substantiate the income, is this a denial because we are unable to verify income or approved not accept by the borrower?
Provider using an Attorney for the Closing
02/13/2022
If the borrower chooses a provider on our Service Provider List, however, that provider must utilize an attorney for the closing as required by state law, is the closing fee considered shopped? The attorney was not listed on the SPL so it's paid to a different provider, however, the borrower did not choose the attorney and it was chosen by the provider they chose. There were no fee increases, however, had there been it doesn't seem fair to hold these fees to an unlimited tolerance.
HMDA LAR-Residence or Investment
02/13/2022
We are doing a new loan to refinance an existing loan at another bank. The borrower owns the home and the co-borrower lives in the home. The borrower rents to his son. For HMDA purposes do we consider this an investment property or primary residence? To the borrower it is investment property but the co-borrower it is primary residence.
HMDA Purpose Help
02/13/2022
What is the HMDA purpose classification when refinancing a construction loan and converting it to permanent financing - purchase or refinance?
Loan Operations Teams
02/13/2022
What are the basic duties of a loan operations team?