This question pertains to lender credits on California loans. We have an SB2 charge from title on all refi's which is always estimated at the max fee of $225.00. This doesn't get updated until after closing when majority of the time it is lowered to $75.00. If the lender discloses a credit for this fee upfront at $225, can the lender credit be reduced if/when the fee is reduced at closing (after funding)?
Can a third-party conduct the policy review?
In a scenario where the appraised value came in low, would an appraisal be considered as 3rd party information?
It is my understanding that we must accept private flood insurance only if it contains the Compliance Aid statement. Correct?
Our conditional approvals are verbal and there is often not sufficient information in the file for the staff that prepares the HMDA LAR to know what conditions are outstanding. How can we report accurately in this situation?