I know Reg B talks about a lender not discriminating when collecting on a debt. What other regulation talks about a lender fairly treating a customer during collection procedures? Fair Debt Collection Practices Act? I think a lender collecting their own debt is exempt as a "debt collector" definition.
Our bank has a 3% ownership interest in a title company and we provide an affiliated business arrangement disclosure on all loans. Should fees paid to the affiliated title company be included in the Qualified Mortgage points and fees test and/or the APR calculation?
We received a referral for a commercial construction loan from a small business that specializes in providing information to those who are building homes. The construction loan does not meet any of the triggers for RESPA coverage. The referring source is requesting a 1% referral fee. The bank would pass this fee onto the borrower. My questions are: (1) Are there any regulatory or legal prohibitions on the bank paying this fee and passing it onto the borrower, and (2) if the fee is permissible, how should it be listed on the loan documentation?
We paid escrow into a negative for insurance knowing that escrow would be even by the end of the year. The client cancelled the insurance and received the refund check. Are insurance companies required to send the refund check back to the consumer or is there a way we can ensure going forward that the refund checks come to the bank?
If a loan is denied due to collateral value, would the adverse action notice include that an outside source was used in the decision and the outside source was the appraiser? I believe the appraiser would NOT be an outside source for this purpose.