Most Popular Lending Content
Information Errors v. Computation Errors
06/17/2002
I have a question regarding loans that we purchase and service: Our Lending Compliance person was reviewing loans purchased and noticed that a loan was missing a GFE. From a compliance standpoint, are we required to follow-up to obtain the GFE and any other missing documentation? How does missing documentation on purchased loans sit with the examiners?
Listing Insurance on HUD-1s
06/17/2002
Our company supplies compliant software to banks.We have several banks who disagree on whether credit life and A&H insurance should be shown on the HUD statements.It is shown on the final TIL in its own section, but from reading HUD instructions, I do not see that it is a requirement.What is your opinion?
Cooling Off Period
06/17/2002
Is there a 12 day cooling off period for home improvement loans?
Real Estate Forms: Certification For No Information Reporting
06/10/2002
by Mary Beth Guard
Question: We have a form that we are using but I can't remember what allowed it.
Understanding Due on Sale vs. Right of Offset
06/03/2002
I have a construction loan promissory note that contains the "Right of Setoff" paragraph in it,along with the normal "due on sale". What are the ramifications of this combination on the promissory note?