Most Popular Lending Content
HMPL Error Correction
10/02/2022
We found an HPML in our audit. There is no escrow set up. What can we do?
Drag and drop directly into the customer’s loan file
09/25/2022
When does it make sense to drag and drop electronic files directly into a customer’s file?
HMDA and ADUs
09/25/2022
Is an ADU a dwelling for HMDA purposes?
New Escrow on Existing Loan
09/25/2022
We had a customer ask to start a voluntary escrow account on an existing loan. Do we need a new agreement?
LAR Variable Rate Reporting and Prepayment Penalties
09/25/2022
Our HELOCs are variable rate, but don’t have an “introductory rate." The rate is just subject to change on the first business day of every month. Is that reported on the LAR or do we just put NA since we don’t technically have an introductory rate? Additionally, if we require in the loan contract that the borrower reimburse fees we as the lender paid if the loan is paid off in the first 36 months, does that number need to go under Prepayment Penalty term if we aren’t technically charging a “prepayment penalty”?