Most Popular Lending Content
Free Credit Reports Available -- Depending Upon the State
12/01/2004
by Mary Beth Guard
Consumers who live in any one of the following thirteen states may request a free annual credit report beginning December 1, 2004:
Lessons in Enforcement Actions: Predatory Lending
12/01/2004
Safety and soundness is an important element of avoiding predatory lending. Just look at the requirements in the FRB's consent order with Utah Bancshares and the Bank of Ephraim.
Rescission on Bridge Loans
11/29/2004
When providing a lot loan and construction financing, often we require a lien on the borrower's existing residence as additional collateral. Since the purpose of the loan is to purchase/construct a new home, is the loan subject to the 3 day rescission requirement due to the collateral lien on the old home?
HUD Instructions - Where Does the Point Go
11/29/2004
When the customer pays a point to reduce his rate, where should it be listed on the HUD Settlement Statement, as an origination fee or a discount fee?
If There is no Recorded Lien, is it a Refinance
11/29/2004
We have a contract payoff that we are currently processing as a refinance. There is no contract or deed recorded. Is this technically a purchase transaction? If not, does Rescission apply?