In Indiana, I know that if a maturity date is not listed on the filed mortgage that the maximum term is 20 years. But if a maturity date is stated on a HELOC, is there a state/federal/regulated maximum maturity and what is it? Obviously, you have to look at the draw period and calculate a projected repayment, but can the maturity date be the actual date of repayment or would it have to balloon so as to keep with the state or federal regulation of maximum maturity date?
Our financial institution has always issued conditional approvals and views that as our final loan approval for determining if an applicant has withdrawn, etc. Should we have revisited this process with the change in HMDA in 2018?
We have a commercial appraisal on a property for one borrower. The borrower could not reach an agreement with the seller so the deal fell through. We have another customer interested in the property. Can we use the original appraisal for the new customer's request?
A customer signed her application using a hyphenated name. Her property is in solely her maiden name, but it is vested as "husband and wife". Do I still need to put a/k/a on documents?
Should a loan officer be the one signing loan docs or can it be anyone that is an officer of the bank do this?