Most Popular Lending Content
If There is no Recorded Lien, is it a Refinance
11/29/2004
We have a contract payoff that we are currently processing as a refinance. There is no contract or deed recorded. Is this technically a purchase transaction? If not, does Rescission apply?
What Fees Are Section 32 Applicable
11/29/2004
What fees are included in the Section 32 home equity loan?
Rescission on Bridge Loans
11/29/2004
When providing a lot loan and construction financing, often we require a lien on the borrower's existing residence as additional collateral. Since the purpose of the loan is to purchase/construct a new home, is the loan subject to the 3 day rescission requirement due to the collateral lien on the old home?
Do We HUD-1 This HELOC?
11/15/2004
HELOCs subject to Section 226.5 of Regulation Z do not require a GFE or HUD-1. However, if our customer is using a closed end first mortgage and a simultaneously issued HELOC to purchase a home, do we need a separate HUD-1 for the HELOC?
Retaining Construction Advance Documentation
11/15/2004
In commercial construction loans, once the construction is complete and you have received the Certificate of Occupancy, how long should you retain the construction advance information (photos, memos, advance request forms)?