Most Popular Lending Content
Combined Fees on a Mortgage Loan
09/20/2004
Can a bank combine fees to others, such as for title policies and appraisals, into one bank fee and show the breakout as POC items on the HUD settlement statement?
Rescission on a Business Loan with a Home
09/20/2004
If a commercial lender makes a loan for the purchase of a business and he/her takes a mortgage on both the new real estate being purchased and the purchaser's personal residence, is there a 3 day right of rescission?
Pre-Paid Finance Charge
09/20/2004
What fees are considered as pre-paid fees on a real estate loan and consumer loans?
What is Temporary Financing
09/20/2004
Under the new HMDA revisions, is there a good definition of "temporary financing"?
Interest During Rescission
09/20/2004
On a Freddie Mac refinance of a primary residence where there is the right of rescission; if the loan closes near the end of the month, and the rescission period goes into the next month, (closes 4/28/04 and the rescission date is 5/2/04) is it correct that the customer can only be charged interest from the rescission date (5/2/04) and not the closing or note date? Therefore, the customer would be charged interim interest from 5/2/04 to 6/1/04 and the first payment date would be 7/1/04 due to the fact that all Freddie Mac loans have payments due on the first of the month. Is this correct?