Most Popular Lending Content
Notice Timing for Appraisals
10/04/2004
For the Right to receive a copy of appraisal form, is this to be given at the time the customer gives us their application, or when we send/give early disclosures or when loan closes? It is my understanding from the regulation that it is at any time during the application (before credit decision is made) and I just want to know if I am interpreting this correctly.
Credit Bureau Reports Without Written Permission
10/04/2004
Can you take applications for loans over the phone and pull credit? If the customer never comes in and the request is denied, what do you do with the application that has not been signed by the customer that gives you permission to pull credit?
May We Require Related Services
10/04/2004
Is it permissible for our bank to offer a discounted mortgage rate if the customer opens a checking account and sets up an automatic payment?
Disclosure of Construction to Balloon Loan
10/04/2004
If a loan is made to a consumer as a short-term construction loan, and after construction is then converted to a 5-year balloon loan, what are the disclosure requirements?
Requirements on Short-Term Construction Loans
10/04/2004
If the bank agrees to fund a construction loan for 1-4 residential real estate without offering in-house permanent financing approval or having a permanent commitment from a mortgage broker, does RESPA require a GFE within the context of the 2-year temporary financing rule?