10/16/2006
Are the Uniform Underwriting and Transmittal Summary form and the HUD Mortgage Credit Analysis Worksheet form necessary for a home equity loan?
10/11/2006
by Regional Examiner Jeff Bagby, Oklahoma State Banking Department
10/09/2006
What are the bank policies that need board approval and how frequently?
10/09/2006
If I have a loan that is exempt from HMDA reporting because of it being interim financing, would it also be exempt from RESPA?
10/09/2006
I recently was assigned the task of reviewing all our bank's loans for documentation and compliance errors. My question is on a 2nd mortgage home equity loan do we need the affiliated business arrangement when we make the referral to our title company that is owned by a board member? We do the ABA on the refi and purchase side but I have not seen the ABA in any home equity files that I have reviewed.
10/09/2006
When collateral property is located in a Flood Hazard Area (and a participating community) we were operating under the impression that the mandatory purchase guidelines required either a NFIP or a WYO flood insurance policy be purchased. We now have someone questioning this since standard Mobile Home Owners policies include flood insurance coverage. Is this type of insurance acceptable to meet the flood requirements? Or are we limited to either NFIP or WYO policies?
10/09/2006
We want to pay our bank employees a fee for referring mortgage applicants to our bank's mortgage department. I realize there is an exception for this in RESPA, however, must the fee be paid regardless if the bank actually closes a mortgage? The lender wants to pay only when it's a done deal; others believe it must be paid regardless.
10/09/2006
We are funding a HELOC to a husband and wife with the mother-in-law cosigning, but the wife is the only person on the title. Who should sign the note?
10/02/2006
If a borrower is getting a loan for roof repairs on a house he lives in but doesn't own (his father owns it) is it HMDA reportable?
10/02/2006
I have some questions regarding the UCC and mobile home lending:<ol><li>When we make a mobile home loan, and take the real estate that the mobile home is setting on as collateral, do we need to file a fixture filing? <li>Do we ever need to file a UCC on a mobile home if we have the title? <li>If it is an older mobile home and there is no title does the UCC help perfect our collateral or are we basically unsecured? </ol>