Most Popular Lending Content
Time to Complete an Incomplete Application
04/19/2004
If a lender issues a Notice of Incomplete Application (Reg B), don't they have to give the borrower 30 days to respond?
HOEPA - Rescission Waiting Period
04/05/2004
In a prior Guru question it was stated that in a loan closed on Friday, consummation could occur on Tuesday. But the rescission rules won't allow the closing until after midnight Tuesday. Does this mean that HOEPA could be given at the same time and would end sooner than rescission?
Balloon Disclosure
04/05/2004
Is there a disclosure required at application for a loan that will have a balloon payment?
Difference Between Act and Regulation
04/05/2004
Can you please tell me the difference between an Act and a regulation? And is a law different than a reg or act? For example, Regulation DD is for Truth and Savings, but there is also a Truth and Savings Act.
ARM Disclosure Update Date
04/05/2004
We sell as a correspondent lender to many investors. Most investors do not update their ARM disclosures at the beginning of the year. When do the examples on the ARM disclosures have to be updated?