Most Popular Lending Content
Adverse Action Under the Fair Credit Reporting Act
04/22/2018
Is a notice of action taken needed in the case where we choose not to open a deposit account because of information contained in a credit report?
Vehicles to Pay Off CC-RE Disclosures
04/22/2018
I have a borrower who wants to pay off credit card debt with a consumer loan from our institution. The collateral in this case would be two vehicles and I would like to reference an existing mortgage that is on a rental property (owned by my borrower's father.) The borrower is not the owner of the RE 1-4 family rental property. What RE disclosures do you see need to apply?
Treat Home Improvement as Construct-to-Perm Loan?
04/22/2018
May a home improvement loan be treated as a single transaction construction-to-perm loan? If so, is the draw period/construction period exempt from RESPA servicing rules or do they apply because it is not initial construction of the property? Here is the scenario: the borrower already owns a house and is taking it down to the studs and will have all new finishes at the completion of construction. He is also paying off two existing loans. Following the construction phase, the borrower will obtain permanent financing through our bank.
Right of Rescission-Loan Effective Date
04/22/2018
A borrower signs the Note and receives the rescission disclosure and all the other disclosures on the Note date. After the rescission period passes and the funds are disbursed, can the effective date of the loan that interest begins accruing be the Note date or the date the funds were actually disbursed?
Forgetting to Clear Exceptions Upon Receipt of Customer Tax Returns
04/22/2018
Why do loan administrators forget to clear exceptions?
