Most Popular Lending Content
Prepayment Penalty Disclosures
03/04/2002
Our bank is interested in adding verbiage to include "pre-payment penalties" on our commercial loans. What are the required disclosures and what are our options for structuring?
Using An Outdated Appraisal
03/04/2002
My question pertains to an outdated appraisal prepared for another financial institution. I have an appraisal for residential property that is over 4 years old and was prepared for another bank. The customer adamantly opposes paying to update the appraisal. This customer is financially strong enough to find another lender/bank to commit to the request without updating the appraisal. I have a few thoughts on how to circumvent updating the appraisal. However, I would like to see what other lenders/banks do in the same situation. This is not the first time I've encountered this situation and I'm sure it won't be the last time.
Loan To A Living Trust: Required Documentation
03/04/2002
When making a mortgage loan to a living trust, what documentation is usually required of the Trustees as part of the application process? There seems to be a reluctance to disclose sufficient information for proper underwriting of the loan request.
Is it okay to file a mortgage before the loan is funded or before the rescission period ends?
03/04/2002
Is it okay to file a mortgage before the loan is funded or before the rescission period ends?
What is the official definition of the lending word "refinance"?
03/04/2002
What is the "official" definition of the lending word "refinance"?