Most Popular Lending Content
Loan To A Living Trust: Required Documentation
03/04/2002
When making a mortgage loan to a living trust, what documentation is usually required of the Trustees as part of the application process? There seems to be a reluctance to disclose sufficient information for proper underwriting of the loan request.
Is it okay to file a mortgage before the loan is funded or before the rescission period ends?
03/04/2002
Is it okay to file a mortgage before the loan is funded or before the rescission period ends?
What is the official definition of the lending word "refinance"?
03/04/2002
What is the "official" definition of the lending word "refinance"?
Can a lender require a spouse to sign for a business loan?
03/04/2002
Borrower is a corporation with one shareholder. All business assets are pledged as collateral. Lender wants the spouse to also sign on loan docs, with the concern being that she may gain ownership of at least 1/2 assets should they divorce. Would asking her to sign be a violation of Reg B? If so, does the lender have a bona fide concern regarding assets or does the fact that the borrower is a coporation make this a non-issue? Flip side: What about if the borrower was a partnership or sole proprietorship and the spouse has no role in the affairs or function of the business? (e.g., farmer Bob who takes a loan secured by crops.) Lender wants to add wife to loan as a condition for the same reasons listed above. How should I advise my lender?
Is it illegal to charge a loan documentation preparation fee?
03/04/2002
Is it now illegal for us to charge a loan documentation preparation fee?