Most Popular Lending Content
Using the EHL logo
06/18/2023
We include the Equal Housing Lender logo in all our home loan ads. Are we also required to include the “Equal Opportunity Lender” logo?
Are short-year escrow statements required for paid-off loans?!
06/11/2023
We had an auditor tell us we need to be sending an escrow statement when a mortgage loan pays off early. We send an escrow refund check, but since there is no escrow analysis occurring, we don’t include any escrow statement. That would be silly, wouldn’t it? What are they talking about?
Disclosures and New Co-borrowers
06/11/2023
We added a co-borrower to our loan and sent a revised Loan Estimate to this co-borrower, but not initial disclosures. Are we out of compliance? Is there any way to cure this before loan closes if it is a problem?
Compounding Accrued Interest in a Refi
06/11/2023
If a lender is doing a cash-out refinance on a residential mortgage loan, can they include the accrued interest into the new loan, or must the borrower pay those out of pocket?
Construction to Payout
06/11/2023
Our bank did a short-term construction loan that was schediled for a full payout at maturity. It has matured and the borrower is unable to pay it in full. He has asked to convert it to payments. Can we modify the loan with a change in terms agreement, does this require new TIL disclosures, or do we have to refinance it with a new loan and all new disclosures?