10/30/2016
Can you direct me to training on Auditing Reverse Mortgage loans. I cannot seem to find anything for auditors or a checklist.
10/16/2016
We are going to finance the purchase of a mobile home. Would this be HMDA reportable?
10/09/2016
Is there a difference between a manufactured home, and a "pre-cut, tilt-wall" or "panel" home?
10/09/2016
My question is about variable rate disclosures and TRID loans. When you have a TRID loan not secured by consumer's principal dwelling and the loan has a variable rate with a term over 12 months, do you provide a loan program disclosure for each variable-rate program in which the consumer expresses an interest, or do you only provide the variable-rate program disclosure when the loan is secured by consumer's principal dwelling? If you do give out the variable-rate program disclosure, and there are two borrowers, do you have to give each borrower a copy of the disclosure if they live at the same address?
10/02/2016
How should lender credits be handled at closing for a TRID loan? Do we have to still issue a "Good News" letter? Can we quit issuing checks and use credit towards cash at closing?
10/02/2016
Is it true that because a mobile home can be moved in the event of a flood threat, flood requirements do not apply to this collateral?
10/02/2016
I have a question regarding TRID disclosures for Construction only loans.
Our product is a 12 month interest only loan with a balloon payment at the end. Would this require an AP table? I have tried to research online however I found very little information.
10/02/2016
I have a borrower that is doing a debt consolidation loan. Part of the collateral consists of his parents' ag land that also includes a house. There is a mortgage for the full value of the property and currently there are other loans that add up to about 40% of the mortgage amount. This loan would be using the same mortgage and not filing a new mortgage. Would the HPML escrow rule come into place if we are using a home equity rate that is going over the 1.50% threshold since there is only 1
mortgage on the property. Also - the borrower and the owner of the collateral are 2 different people - if that makes a difference.
09/25/2016
For telephone applications, would checking the joint applicant box in your loan system at the time of the verbal application be considered enough evidence to show joint intent (assuming you had asked the borrower their intent upfront)?
09/25/2016
If our procedure is such that the bank prepares the borrower's Closing Disclosure and the settlement agent prepares the Seller's Closing Disclosure, what information, if any, from the Seller's Closing Disclosure does the bank need to include in the Borrower's Closing Disclosure?