Can we adjust the margin according to credit tier pricing?
In a recent webinar with the FDIC it was noted that when there are multiple buildings on a property, the maximum allowable amount would need to be pro-rated so that each building had coverage. The total amount of insurance could not be more than the maximum allowed ($250k/$500k). In a past post on BOL I read the maximum amount could be placed on each building. Can you clarify what the requirements are?
The Reg. B requirement to deliver a copy of the appraisal is limited to first lien loans. The Reg. Z appraisal requirement is for HPML loans, and QM loans are exempt. Is there any requirement to deliver a copy of the appraisal on a HELOC or a fixed rate second lien mortgage loan that is not a non-QM HPML loan?
Can a bank require a co-signer on the first loan a borrower has ever had even if they qualify on their own?
How should we disclose construction loan inspection and handling fees?