Most Popular Lending Content
Fannie Mae QC Requirements for Prefunding
09/13/2020
We are trying to update a residential loan policy and our review committee would like to know what would happen if we failed to comply with Fannie Mae QC requirements for prefunding and post-close mortgage loans? I can find info on post-close penalties and requirements, but nothing for not completing prefunding QC. Can you point me to any penalties, or requirements to self-report and/or buy-back loans if we don't do prefund QC?
Seller's Fee in Tolerance Calculation
09/13/2020
When we have a TRID loan that we have already issued the loan estimate to the borrower, and we find out that the borrower will be paying the seller’s fees at closing. Do we have to include the seller’s fee in with our tolerance calculation since the buyer is paying it? Let’s say we have state/tax stamps, usually paid by the seller. At closing we find out the buyer is paying the fee. This is a zero tolerance fee, do we have to add it into our tolerance calculation since it is a seller’s fee just being paid by the buyer?
Commercial loans are fair lending issues
09/13/2020
How does fair lending impact commercial loans, which is not “consumer protection” controlled?
"Purpose" for a home improvement loan
09/13/2020
For a home improvement loan, is the Purpose = Home Equity?
Exception Automation
09/13/2020
What is exception automation?
