02/20/2012
Taking a Wealth Mgmt Account as collateral, would you use a Commercial Pledge Agreement and/or a Control Agreement and Acknowledgement of Security Interest as Collateral?
11/14/2011
If we as the lender own the real estate that has two houses and is less then 25 acres, does RESPA apply when an applicant requests a loan on the owned real estate?
10/24/2011
Who does the right of rescission apply to? If a husband and wife own a home and the husband's mother lives with them but is not on the deed, would the mother have ROR if the house was being used as collateral on a car loan the mother was applying for?
07/18/2011
I recently attended a Harland Laser Pro Regional Conference. It was indicated that the SAFE ACT states that mortgage lenders must register for a NMLSR. Does this include loan officers that just take Home Equity Loan and HELOC applications?
04/18/2011
In approving a commercial loan that is secured by an IDOT on the guarantor's primary residence can we require his wife to provide a limited guaranty since she is an owner of the property to be pledged?
02/14/2011
A local attorney has informed one of our bank officers that the SAFE Act would require a lender to be a registered mortgage loan originator in order to close loans for lot purchases (land only). I haven't heard that in any of the seminars I have attended. Is this true?
02/14/2011
Does rescission always apply to HELOCs, but not purchase money? What about a refinance of a mortgage loan with the same lender and no new money; would rescission apply?
02/07/2011
We have a bank client who made a loan to a customer with property as collateral that is located in a flood zone. The property has a mobile home on it, but the bank only took the land as collateral. The mobile home is able to be moved from the property, but there is a deck around it that is attached to the property. Would this loan be required to have flood insurance even though the mobile home is not part of the collateral?
01/24/2011
We are providing a primary dwelling secured loan to a consumer who owns the home free and clear. Since it is not a refinancing, is the transaction rescindable?
01/24/2011
Is a consumer credit score disclosure required for mobile home loans if we are not taking a security interest in the land on which it is located?