Does the TRID rule apply to a loan where the borrower is the occupant of the house but not the owner, or is it exempt because it's not owner-occupied?
Can you charge a late fee on a consumer single pay note?
I have a question on Reg O, specifically the preapproval by the majority of the entire board of directors requirement under 215.4. 1. If the board of Directors authorizes a sub-committee to act on behalf of the entire board, would pre-approval by that sub-committee satisfy the regulatory requirement regarding approval by a majority of the entire Board of Directors? 2. What if the majority of that sub-committee was composed of senior management, the remaining minority members were board members and the total number of board members on the committee did not constitute a majority of the entire board?
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?
I'm new to TRID and trying to understand tolerance and cure amounts for things such as the following: Loan Estimate : - Recording Fees $32.00 - Settlement Agent Fee $500 and - Title Search $300.00 Closing Disclosure: Title Search $500.00 What would be the tolerance cure?