Where could I find a list of required initial and final loan disclosures for closed-end, 12-month construction loans?
Our loan officers pull clients credit reports and input the information in our LOS. Not all six items that make up an application for a home loan have
been provided. My question is, do we still send out a "Notice of Incompleteness" to the client if the only thing that was received in the
loan file was the credit report and the loan has been in our system for 30 days with the property marked, "TBD?"
The way I read Reg B is that you only send out the NOI once it is considered an application. So if these are not considered an application but you
obtained credit, would we not have to send some sort of documentation/NOI because the score is good enough to move forward?
Who should technically be doing a loan closing?
When and to whom must HUDs SCRA mortgage notice be sent out? We prefer to wait for the 45 day notice we already send.
Does Section 8 prevent us from accepting Christmas gift from providers such as appraisers and title companies?
We were told that the Supreme Court determined several years ago that Section 8 of RESPA is unenforceable?
Can we provide football tickets to local realtors?
We have been informed that marketing service agreements are illegal. We have a provider that is proposing a third-party agreement. He says this arrangement is not a marketing service agreement and is therefore legal. Your thoughts?
My compliance officer says we have an affiliated business arrangement with a title insurance company that is 20% owned by our holding company. I thought the rules kicked in with 25% ownership. Who’s right?
Are there any regulatory requirements that a bank must pay interest on escrowed funds? This would be borrowers funds held for construction not tax