How are ticklers used in lending departments at banks?
Has the CFPB provided sample forms for construction loans?
Our mortgage department is putting together a script for a generic radio ad promoting their department and our offering of home loans. I know the obvious requirement of FDIC and EHL being mentioned. However, I'm unable to find concrete support as to whether our bank's NMLS ID must also be included. I saw a comment in the forum stating that banks aren't required to include it but can't find regulatory guidance to support that. Can you offer me some wisdom or direct me to a resource? I'm in Texas, by the way. I've also searched for state specifications and came up empty.
Aren’t enforcement actions just a big bank problem?
We are trying to update a residential loan policy and our review committee would like to know what would happen if we failed to comply with Fannie Mae QC requirements for prefunding and post-close mortgage loans? I can find info on post-close penalties and requirements, but nothing for not completing prefunding QC. Can you point me to any penalties, or requirements to self-report and/or buy-back loans if we don't do prefund QC?