Most Popular Lending Content
Prohibitions Against Prepaying Mortgage
01/07/2024
Is the any regulation that prohibits a credit union member from paying their mortgage ahead by a specific number of months?
Electronic capture of loan documents
01/07/2024
What are some common approaches to electronically capturing loan documents?
Biggest Compliance Penalty in 2023
01/07/2024
What was the biggest penalty surprise this year?
Banks’ responsibility for third-party appraiser actions
01/07/2024
How could an issue with an appraiser be turned into a fair lending issue if the bank was not the one involved with a discriminatory issue?
Re-disclosing Locked Rate Based on Prime
12/31/2023
The initial and locked Loan Estimate (LE) on an ARM loan was based off the WSJP index. When it was time to issue the initial Closing Disclosure (CD), the WSJP index had increased causing the APR on the CD to be about 1/2% higher than on the last LE. Should we adjust the index value on the CD to match the index value used on the LE to keep the APR within tolerance, or do we need to update the index value to the current value and redisclose the LE and then inssue an initial CD?