Most Popular Lending Content
Construction Loans & ROR
08/04/2003
I am dong a construction loan for a consumer to payoff the lot and purchase and set up a mobile home. The property is 6.0 acres out of a 15 acres tract. They are currently living on the property in a travel trailer and receive mail at the collateral address Does Right of Rescission apply to this transaction?
1098 Reporting & Motor Home Loan
08/04/2003
I need some information pertaining to 1098 reporting. Can a large motor home loan be coded for a 1098 as a second home?
Reg Z & Construction Loans To Family Members -- Bankers Systems, Inc.
08/04/2003
Please help us resolve this dispute. The question is if a loan should be considered for consumer or commercial purpose for compliance with Regulation Z. The borrower is an individual acting as a builder for his son-in-law. He has previously built two homes for himself. His income, however, is not made as a builder. He works in an unrelated capacity. He is also not making a profit on the construction loan. I think Regulation Z would apply to this loan. Please help.
Using UTMA Account As Loan Collateral
08/04/2003
Under UTMA regulations it was my understanding that in order to use a UTMA account as collateral for a loan we needed some sort of proof that this money was to be used to benefit the minor. Is this correct? If so, how can we be sure that the loan proceeds are being used for the minor?
Required Home Equity Disclosures -- Bankers Systems, Inc.
08/04/2003
When handing out Home Equity applications what disclosures should we give our customers to stay in compliance?