Most Popular Lending Content
Combined Note & Disclosure
11/18/2002
I remember reading article concerning a combined note and disclosure. I am unable to locate the article on the site. Could you please assist me in finding the article?
Sample Form For The Past Due Mortgage Loan Notice
11/18/2002
Do you have a sample form for the notice HOUSING AND URBAN DEVELOPMENT ACT for past due mortgage loans?
Referral Fees For Commercial Loans
11/18/2002
Do you know of any regulations that would prohibit a thrift from paying referral fees (equal to 25 basis points) to a lumber company for referring speculative construction loan business to the thrift? These are commercial ventures.
Dwelling Refinance, Debt Consolidation, and HMDA
11/18/2002
On a refinance of a dwelling loan plus new money for debt consolidation, should this be reported as HMDA? In the publication A Guide to HMDA Reporting Getting it Right! pg A-6 "B" (1) Data to be excluded: Loans that, although secured by real estate, are made for purposes other than home purchase, home improvements or refinancing (for example, do not report a loan secured by residential real property for purposes of financing college tuition, a vacation, or goods for business inventory). This says to me that if the new money over the amount of the loan you are paying off is not for home improvement DO NOT report. However, appendix D of the publication mentioned above pg D-2 #2 Meaning of refinancing (iii) Assume that the new obligation is a refinancing of a home purchase or home improvement loans only if the new obligation will be secured by a lien on a dwelling. So is this saying, it does not matter what the purpose of any new money is for, if the old loan was secured by the dwelling and the new loan is secured by the dwelling, it is HMDA? As you can see, confusion rules with HMDA.
Flood Insurance Cheat Sheet
11/13/2002