Most Popular Lending Content
State Law Or Federal Law For Loan Fees
07/15/2002
We are a federally charted bank with offices operating in different states. Do we follow state or federal law for allowable loan fees on consumer, residential mortgage and commercial loans?
Is it a RESPA violation for a mortgage lender to pay a percentage of the loan commission to the Realtor?
07/15/2002
Is it a RESPA violation for a mortgage lender to pay a % of the loan commission to the realtor if the realtor actually takes the loan application and is disclosed on the settlement statement?
HOEPA Worksheet: It's just a click away.
07/15/2002
I am looking for a worksheet that can be used to determine whether a loan is a Section 32 mortgage. Do you know of any such worksheet?
Right of Rescission: The money has been disbursed and the customer wants out. Now what?
07/15/2002
If a bank provides a right of rescission but disburses a loan before the 3-day cooling off period ends, what are the consequences to the bank if the customer then rescinds within the 3-day cooling off period (after disbursement and assuming no special emergency waiver)? Does this represent the cancellation of the contract itself or just the cancellation of the security interest? If the contract is still valid, though unsecured, can the bank charge interest on the loan while trying to collect? (Basically, what is the bank's legal recourse in regards to the improper disbursement?) Also, what are the possible regulatory penalties for such a violation?
When the Borrower's Home is Owned by a Business
07/08/2002
by Mary Beth Guard, BOL Guru