Most Popular Lending Content
Proper HUD-1 and GFE Completion
11/17/2003
Must the fees/charges paid outside of closing by buyer or seller be disclosed on the GFE at all? If so, should they be disclosed as POC? Also, on itemization of Amout Financed, must the fees in the category "amounts paid to others" be an exact match of Final Hud-1 figures?
Disclosures Timing on Phone and Mail Apps
11/17/2003
Disclosures must be signed and dated within 3 days of application. Does this apply if someone applies by mail of by phone?
Pledging a Jointly Owned CD as Collateral
11/17/2003
When a Joint CD is used as a collateral on a loan must both parties pledge the collateral or is the one borrowing the money the only one necessary? If a loan is secured by a CD the has a POD on it must the POD pledge the collateral also for the loan?
HOEPA Triggers for 2004
11/17/2003
What is the total fee and point figure under HOEPA for 2004?
Variable Rates on Consumer Construction
11/17/2003
Can we use variable rates for consumer residential construction loans? We've been told by consultants that consumer construction loans HAVE to be fixed rate.