Most Popular Lending Content
Term to use on HMDA Rate Calculation
02/16/2004
When using the HMDA rate calculator, which term would we use on our loans? On most of our real estate loans, we lock the interest rate in for 2-4 years, but set the payments up on a 10 year payoff. Would we use the 2-4 years or the 10 year term that it will take to pay the loan off? We want to use the correct term.
Industry Standard for Documenting Joint Apps
02/09/2004
Reg B and Intent to Apply for Joint Credit Question. Thank you for the wonderful clarification with the article on Reg B Roundup. Our team and attorneys have discussed at length the best way to establish a person's intent to become jointly liable for a credit obligation at the time of application. This regulation change impacts products differently based on the product process but I’m particularly interested in understanding what other lenders are planning to do to satisfy this change when taking applications over the phone or internet. We are checking with other industry contacts. Do you have any more specific guidance on phone applications for consumer finance (Auto, unsecured)?
What is the definition of a manufactured home?
02/09/2004
What is the definition of a manufactured home?
Difference in Points and Origination Fees
02/09/2004
Is there a difference in points and origination fees? Should they both be reported on the 1098 tax form?
Are business credit cards reportable as small business loans?
02/09/2004
Are business credit cards reportable as small business loans?