Is a new truth in-lending required when there is a change in circumstances? (2nd lien)
What loan documents require an original signature and when is an electronic signature or facsimile sufficient?
We have a customer that is buying a spec home from a builder. The customer has moved into the spec home prior to the loan being closed. Does this loan require that we give a Right of Rescission to the borrower? Our compliance consultant company says NO but I have an employee at an IBA seminar today that is saying per Reg Z says No but Truth in Lending Law says Yes so we should do a rescission.
Does the Mortgage Loan Originator unique identifier number issued by NMLS have to appear on all loan documents?
Do TILA and Regulation Z apply to a closed credit card account? For e.g., if a consumer sends a payment to a creditor for a charged off, closed credit card account, is the creditor still required to credit the payment "as of the date of receipt" or within 5 days of receipt if the payment was nonconforming? See 12 CFR 226.10.
Who does the right of rescission apply to? If a husband and wife own a home and the husband's mother lives with them but is not on the deed, would the mother have ROR if the house was being used as collateral on a car loan the mother was applying for?
Recently, it was brought to my attention that when we calculated the odd days interest for the APR we were using a 365 day year and our loans were on a 360 day basis (besides the other fees needed for the APR). Is this considered as understated interest so the APR is incorrect?
A customer has notified us she wants to rescind on her mortgage loan based on a TILA violation. She sent her rescission in to us, but we question her ability/right to do so. Are we still obligated to take the house back within 20 days or forfeit our lien?
Is the lender in violation of the three day right of recission if it must redisclose a material diclosure such as payment term after the loan has funded?
Can I do a personal loan using a vehicle title and a Deed of Trust to a primary residence without having all the mortgage disclosures?