Most Popular Lending Content
Does RESPA Apply
08/16/2004
Does RESPA apply if the grantor of a dwelling is not a borrower on the note?
ARMs & Rate Spreads
08/02/2004
What term should we use on an ARM loan in the Rate Spread Calculator? For example, does a 5/1 ARM with a 30-year amortization use the 5-year Treasury?
When to Disclose a Right to Appraisal Notice
08/02/2004
I believe that the practice of providing the "Right to receive a copy of Appraisal" at closing is acceptable and represents the "notice of action" in an approved loan. Others feel that we should provide a separate mailing sometime between the application date and closing date when the decision to approve the loan is made. I think this is more cumbersome than it needs to be. What do you think?
Crop Liens Should be Filed Where?
08/02/2004
To perfect a lien on crops, where should we file? Several seminars have said to file at the state; however, our bank does not feel comfortable not filing a lien at the county level.
HMDA Rate Spread Reporting
08/02/2004
We have a loan that is not HOEPA applicable. Do we still have to calculate the rate spread? If so, what additional disclosures are required if the spread exceeds 3 percentage points for a first lien?