Most Popular Lending Content
RESPA: Private Suits for Markups - John Burnett
08/23/2005
RESPA: Private Suits for Markups
John Burnett
Must Insurors Send Adverse Action Notices? - John Burnett
08/22/2005
Must Insurors Send Adverse Action Notices?
John Burnett
Aircraft as Collateral - UCC Financing Statement
08/15/2005
In addition to filing a lien with FAA when taking an aircraft as collateral, would it also be prudent to file a UCC Financing Statement, or is that overkill?
FACT Act Negative Notice Disclosure
08/15/2005
Our Loan processor has added the capability to print out the FACT Act Negative Notice Disclosure with the new loan paperwork. The Negative Notice is a separate document. My concern is the Notice would be considered being included in the initial disclosures. I understand that the Negative Notice could not be provided with the initial disclosures under the Truth in Lending Act.
RESPA Questions
08/15/2005
I have searched high and low for an answer to no avail. When are HUD-1/1-A Settlement Statements are required? Reg X's definition of federally related mortgage loans says it applies to all 1-4 family dwellings. So does this mean that it would be required in a transfer of lien by a commercial borrower who does NOT occupy the house, and owns 40 or more rental properties? It is clearly commercial purpose. Why do title companies provide settlement statements for every type of real estate transaction?