Most Popular Lending Content
Correcting an Improperly Recorded Mortgage
09/02/2003
Our Loan Auditor found that one of our mortgages was recorded as homestead property and it is not homestead property, do we need to re-record the mortgage?
Reporting Home Improvement Loans
09/02/2003
Client is requesting a $13,000 home improvement loan paying off an unsecured $3,000 home improvement loan with additional funds of $10,000 for new improvements. This is not reportable in 2004 as a refinance. Should it be reported as a home improvement loan or not reported under HMDA at all.
Adding handling fee when force placing insurance
09/02/2003
When we force place homeowner's insurance and debit the balance of the loan, can we include a handling fee to be retained by the bank?
Trusts & TIL Requirements -- John M. Floyd and Associates
09/02/2003
We made a loan to two individuals using property that is their primary residence. The property is titled in the name of a Trust. The individuals signed the note as borrowers and the Mortgage as Trustees for the Trust. Our loan document program did not automatically prepare the ROR.We did prepare the ROR for the individuals. We assumed TIL fell into place as the purpose of the loan was consumer purposes, the Borrowers are natural persons, using primary residence as collateral, but titled in the Trust name. In your opinion are we in compliance? We feel that we are.
OCC Preempts Georgia Law
09/01/2003
The OCC has published its conclusion that national banks are not subject to the Georgia Fair Lending Act (GFLA"). The GFLA contains strong measures designed to prevent predatory lending.