Most Popular Lending Content
Removing an Applicant, New Application?
02/23/2004
Situation: husband and wife submit a joint loan application. Husband's credit is fine, wife has poor credit. The loan is unacceptable "as is", however, if the wife is removed from the application, the husband qualifies perfectly on his own. Should the original loan application be denied and start a new application from scratch, or does this qualify as a denial/counteroffer?
Temp Loan to Rehab Property: HMDA Reportable?
02/23/2004
Scenario: A customer has come in to request a loan to purchase and rehab a single family residence. It's secured by the first lien deed on trust on the home on the property. The loan is for 90 days. After the repairs are complete, the borrower will then pay the loan through personal, permanent loan on the property. Is this HMDA reportable?
Definition of Bring-Down Fee
02/23/2004
What is a "bring-down fee?"
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
02/23/2004
Is a loan to a mobile home dealer for an individual mobile home reportable under HMDA?
Evidencing Joint Application Intent on Biz Loans
02/23/2004
Has anyone seen a form to be used for business credit indicating applicants' intent to apply jointly? Secondly, why doesn't the updated Fannie Mae application have such questions?