Most Popular Lending Content
Bridge Loan Disclosures
11/03/2003
I have a loan application for a bridge loan. The customer wants to use their current residence as collateral to purchase a new residence. We will be taking a lst lien on the existing residence as well as a 1st lien on the new residence. The loan will be for 6 months, interest only. What type of disclosures do I need to prepare? Does Early TIL come into play? We will not be doing permanent financing.
Quoting Loan Rates by Phone
11/03/2003
Can we quote loan rates for auto, mortgage, and commercial loans over the phone? Do they have to be the APR or can the rates we quote be the note rate? Can we quote rate and terms over the phone without long disclosures? The regs are pretty clear on advertising, but I am interested in call-in customers....
Retention Period for Paid Off Loans
11/03/2003
What is the retention period for paid off loans?
High Cost Loans: HMDA v. Truth in Lending
11/01/2003
We are about to enter a period of reporting information on high cost loans on the HMDA LAR. The fun begins on January 1, 2004 - actually the first business day after that date.
Abusive Lending: OCC Strikes Again
11/01/2003
Clear Lake National Bank of San Antonio, Texas, is the unhappy target of the latest OCC enforcement action on abusive lending.