What is document management?
We have originated a loan for a 7 bedroom group home for disabled individuals where nursing staff is provided in the home. The property is setup as a 7 bedroom unit with shared living spaces (kitchen, living room, bathroom, etc). Would this be considered multi-family? Or do the units need to be fully functioning (include kitchen and bathroom) to be considered an individual dwelling unit?
If joint applicants live in same address, do we still need to provide separate notice (i.e. 2 FCRA notice) or can we send 1 notice and since they both live in same address, that would meet the requirement?
Can the Annual Escrow Statement be provided to the borrower using an e-statement or must a paper copy be snail mailed to borrower?
If a customer uses a HELOC access check to advance funds, does a transaction description other than "Advance" need to appear on the periodic statement?