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Latest Lending - Reg. Z Topics

Is the Life-of-Loan Fee a Finance Charge?

05/22/2022

When we order flood determinations, we also get life-of-loan monitoring for an extra fee. We pass it along to the borrower. Is the determination fee a finance charge?

Flood escrow on a HELOC?

05/22/2022

We are making a HELOC secured by a home in flood zone. Do we have to escrow the flood insurance premium?

Are ARM Disclosures Needed

05/08/2022

As an independent mortgage banker disclosing an Adjustable Rate Mortgage, is it necessary to provide the consumer an ARM disclosure or are we covered by disclosing the Loan Estimate and Closing Disclosure which provide ARM details?

Are LPOs the answer?

05/08/2022

Will Loan Production Offices help in fair lending if we decide to close branches?

Is an Elevation Certificate good enough to remove the requirement for flood insurance?

05/08/2022

We told our commercial applicant that his building is in a flood zone so he needs to purchase flood insurance. He hired a registered professional engineer and brought in an elevation certificate showing the lowest floor is above the Base Flood Elevation. Can we accept it? He is threatening to take his loan elsewhere if we don’t.

Tolerance amounts when a TRID fee becomes NA

04/10/2022

If a "Can Shop For Fee" was disclosed on the loan estimate, but at closing that fee was not needed/purchased, is the fee removed from the 10% tolerance calculation? Or is it still recognized and included for cumulative totals?

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Regulation Z Ability to Repay (ATR) Monthly Payment Underwriting Calculation Quick Reference Guide

Effective January 10, 2014, the Standard Ability-to-Repay (ATR) and Qualified Mortgage (QM) regulations require Creditors to determine a consumer’s ability-to-repay the covered transaction using th

CFPB Mortgage Servicing Tools

The CFPB updated its Small Entity Compliance Guide (Version 3.1) for the 2016 Mortgage Servicing Final Rule on March 29, 2018, to incorporate the changes made by the March 8, 2018 final amendments.

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Most Popular Lending Content

Is the Life-of-Loan Fee a Finance Charge?

05/22/2022

When we order flood determinations, we also get life-of-loan monitoring for an extra fee. We pass it along to the borrower. Is the determination fee a finance charge?

Flood escrow on a HELOC?

05/22/2022

We are making a HELOC secured by a home in flood zone. Do we have to escrow the flood insurance premium?

Capitalizing Interest on Loans

05/22/2022

What documentation or approval is needed to be able to advance interest payments on a construction loan? For monthly payments is it allowed to draw that month's payment from the available credit balance?

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