08/01/2002
Asking customers for their race and gender has always been the most delicate and most difficult stage of taking an application.
08/01/2002
HUD has posed specific questions for comment. These questions seek open debate on specific issues that HUD believes may need clarification.
07/15/2002
I noted on your Roadmap that you indicated a transaction subject to RA9, with security interested perfected under old A9, perfected by filing, in the correct state, with the correct filing, should be continued prior to the normal lapse date by an initial financing statement. I was under the impression that a correctly filed security interest subject to a UCC1 filing under old A9 that meets all the requirements of RA9 should be continued by virtue of a UCC-3 continuation within the window period prior to the normal lapse date, not by an initial filing statement. Please clarify the need for an initial filing statement. Up to this point, I had understood that the initial filing statement was the means to maintain your lien position at the same time you were "correcting" or bringing into compliance with RA9 a filing not meeting the requirements of RA9, but for which you had been perfected under prior A9.
07/01/2002
Is there a simplified summary of the current, pending HOEPA changes/regulations, pertinent to a mortgage nondepository lender?
06/17/2002
Our company supplies compliant software to banks.We have several banks who disagree on whether credit life and A&H insurance should be shown on the HUD statements.It is shown on the final TIL in its own section, but from reading HUD instructions, I do not see that it is a requirement.What is your opinion?
06/03/2002
In a loan that has a 3-day rescission, do I disburse the funds the day of closing or when the 3 day period is up?
06/03/2002
I have an old mortgage loan file that has a mobile home and land as collateral. The mortgage specifically lists the mobile home and all of its identifying information, however, we don't have a recorded UCC-1 on the mobile home itself. Are we considered a true lienholder on the mobile home or would we need a recorded UCC-1?
04/11/2002
04/08/2002
04/01/2002
The Florida supreme court passed a law 10 months ago which states that any joint account with rights of survivorship held by a husband and wife is presumed to be Tenancy by the Entireties. My questions is, on our signature cards, it states that the ownership type is Joint (Right of Survivorship). Does this statement limit the account to Jt W/ROS without the Tennants by the Entireties, or does that still apply despite the statement?