Most Popular Lending Content
Consumer Lender's NMLS# on Blank App?
04/14/2019
Does a consumer lender's NMLS number have to be on a blank application if it is being given to a customer and no other information is collected or given out?
Modifications Construction Perm-Reduce Rate
04/14/2019
I have a question about modifications on our construction perm loans to reduce the rate to sell on the secondary market. We have our construction perms, that after completion and when the loan is closed out, that upon completion of the construction, a “float-down” of the interest rate may be allowed if it meets the guidelines to sell on the secondary market. Does this trigger anything for Reg B or Adverse Action?
Multiple Credit Scores
04/14/2019
If you use a vendor that provides scores from all 3 bureaus and you only use the score/reasons from one bureau for the denial, do you use that specific bureau's name and address or the actual vendor that supplied the report for your adverse action?
Lenders Pay/Credit Back Lenders Title Policy
04/14/2019
We see quite often where lenders agree to pay for or credit back items such as the lenders title policy. This is often done when a lender wants to capture the business of a builder so they offer this as a "perk" to the referrals coming from that builder. I was wondering how other lenders manage to do it without violating any regulations. We wouldn't plan to do this across the board.
Appraisal Notice On New Request?
04/07/2019
Do we need to send an Appraisal Notice on a new request if we are using an existing appraisal we already have for a separate loan?
