Most Popular Lending Content
Application Defined for Early Disclosures
01/19/2004
When a borrower submits a request for a mortgage pre-approval (borrower intends to purchase, but has not identified a property), are we required to disclose with TIL/GFE? Also, I can not find a definition of Loan Application as determined by Reg Z. Where can I find this?
Payoff-Related Fees
01/19/2004
What fees are we allowed to charge for a payoff? We currently charge a fax fee and a fee to record the cancellation. Can we increase the recording fee to cover our cost of preparing the cancellation? Are we allowed to recover our payoff processing costs by charging payoff fees?
Additional Flood Insurance for Line of Credit
01/19/2004
If a customer has a residence located in the flood plain and they have insurance to cover their first mortgage, then they take out a Home Equity Line of Credit, do they have to have additional insurance to cover the credit limit of this line of credit?
Disclosures on HELOC to Purchase Home
01/19/2004
What required disclosures to you need on a HELOC ifthe main purpose of the loan is to purchase the borrowers' house? They are only asking for $40,000.00? Do you need an early truth in lending disclosure or early good faith estimate and any other early disclosures?
Advance Notice of Hazard Insurance Force Placement
01/19/2004
How many days notice must we give a customer to obtain hazard insurance on a residential property before we force place insurance?