Most Popular Lending Content
Refunding Non-Refundable Fees
02/11/2002
Our bank charges a non-refundable $350 mortgage application fee to all customers. If the loan is made, the settlement sheet reflects amounts paid outside of closing from this fee for the appraisal, flood report, and credit report. Recently, in a refinance situation, the borrower exercised his right of rescission and requested the return of his application fee. <a href="http://www.bankersonline.com/regs/226/226-15.html">226.15</a> and its <a href="http://www.bankersonline.com/regs/226/regzcomm.txt">commentary</a> indicates to me that we must return the whole fee. Is this correct? If so, are we ok in retaining the fee in a purchase application where the request is declined?
Home Equity Loans For Property Owned By A Living Trust
02/11/2002
We have a real estate loan that is in the name of a Family Living Trust'. Now they want a home equity loan for that trust. Is there a problem with that?
Online Banker Training
02/11/2002
Are there any online banking courses that you reccomend? I am looking for a site the offers Rules and Regs training as well as soft skills. I would like to roll this online training out to all of our branches in Texas.
Disclosing Taxes and Insurance On Second Mortgages
02/11/2002
On a 2nd mortgage loan does the lender have to disclose taxes and insurance estimates on the GFE and HUD-1A? (There is no escrow.)
Service Provider Confidentiality Agreements
02/11/2002
I am unsure what type of service providers we need a confidentiality agreement with. Some examples are: appraisers, realtors, surveyors, Insurance underwriters, Inspection companies, title companies, janitroial services, attorneys used for legal purposes for the financial insitution, attorneys used for title searches and other legal work involving a loan, Insurance companies use to obtain insurance coverage for the bank.