Can you please tell me If your guarantors need to sign an errors and omissions statement?
I have a question related to HMDA 2018, specifically around GMI collection methods. We had some correspondent lenders start using the demographic information addendum in late 2017. What rules would apply to collection method of GMI since the application date was in 2017 but the Demo Info addendum was used?
Is a USPAP Standard 3 Review required for all of our appraisals?
If we have three DDA accounts securing the same loan, does the "single action rule" limit us to only using the funds from one account in the event of default? It is the funds in all 3 accounts that add up to enough to cover our loan proceeds.
While auditing a mobile home loan I saw escrow statements. Isn’t this unnecessary since RESPA doesn’t apply when we don’t have real estate as our loan collateral?