Most Popular Lending Content
UCC Continuation Problem
02/11/2002
We have continued a UCC one week and six months before the expiration date. How do we correct this? Our original UCC expires on January 2, 2002 and the continuation was filed June 28, 2001. I have never had this happen and wouldn't like to guess.
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?
Are attorney's fees considered a finance charge under Reg Z?
02/04/2002
Are attorney's fees considered a finance charge under Reg Z?
Late Fee Grace Period
02/04/2002
The bank I work for has always allowed 15 days grace period for mobile home loans that are late before assessing late fees. Where can I find the law that dictates 15 days grace period and is this for consumer, primary residence-secured loans only?