In the 2% cap fee for Texas Home Equity loans, what fees are included against this 2%? I know excluded is the appraisal, survey and title insurance with endorsements (does this include escrow fee?), but what remaining fees would count against the 2% cap fee? Would HOA Assessment or Dues count against the 2%?
We paid escrow into a negative for insurance knowing that escrow would be even by the end of the year. The client cancelled the insurance and received the refund check. Are insurance companies required to send the refund check back to the consumer or is there a way we can ensure going forward that the refund checks come to the bank?
If a loan is denied due to collateral value, would the adverse action notice include that an outside source was used in the decision and the outside source was the appraiser? I believe the appraiser would NOT be an outside source for this purpose.
May a lender offer a gift card at closing for a mortgage loan, and would this then be disclosed on a loan estimate or closing disclosure?
Can a 30 year fixed mortgage be converted to a 5/1 ARM mortgage? What information needs to be provided to the consumer to have this done and can it be a modification or must it be a refinance?