The bank provided a construction loan to a borrower to build a dwelling. Along with the temporary financing the bank also provided a loan estimate for a permanent loan. This was done to make sure the borrower had all the pertinent information to make a decision about the new construction as well as due diligence by the bank to be certain the borrower will qualify for the end mortgage. Is it considered a HMDA reportable transaction as a withdrawn application if the bank provided the loan estimate for permanent financing? The construction loan was taken out by a permanent mortgage in the secondary market loan and not the in-house mortgage that the loan estimate referred to.
Does the TRID rule apply to a loan where the borrower is the occupant of the house but not the owner, or is it exempt because it's not owner-occupied?
On a home equity loans made in Texas, the law requires that they must close at an attorney's office, Title Co or the bank. If customer is bedridden can it close at their home?
What happens if a lender chooses not to read the HMDA Telephone Script when required to an applicant?
Is an RCBAP master policy an acceptable form of insurance for a property that is legally a planned unit development (P.U.D.) and not a condo? FEMA guidelines seem to indicate RCBAP's can only be written on condos but we are seeing insurance agents issue these on P.U.D. properties with the insured name being the HOA.