Most Popular Lending Content
7 Day Waiting Period Apply to Note w/o Perm?
07/29/2013
If we do a construction note without perm financing, does the 7 day waiting period apply?
Accidentally Omitted Appraisal Fees Rule GFE
07/29/2013
When I am reviewing GFEs and changed circumstance re-disclosures, are accidentally omitted appraisal fees an appropriate reason for a changed circumstance re-disclosure? Also, for increased appraisal fees after the invoice is returned, if the amount is higher than originally quoted on the GFE, is this also a valid reason for a changed circumstance re-disclosure?
Capitalization If Don't Collect Accrued Interest?
07/29/2013
I have a loan to a customer that is in annual payments. It is not past due. The next installment is due January 2014. If I do a NEW loan to this customer for medical expenses and pay off the existing loan, do I have to collect the accrued interest from him at closing? Is this capitalization if I do not?
Right of Rescission Apply to to Prop/Business Refi
07/29/2013
I work in the commercial department at a bank and I am working on a new loan request to refinance/consolidate some loans into one loan for a customer (husband and wife). We will be paying off a couple of mortgages and some business debt (they own there own business- this business will be a guarantor on the loan)- they do live in the property being refinanced. Is there a right of rescission? The property is a commercial building(s) and 2 unit apartment building unit.
TILA Required for Loan to A Grantor Trust?
07/29/2013
When making a loan to a Grantor Trust is a TILA Disclosure required? I read the article on this website, the author states that it goes through to the natural person (beneficiary) but whether it is a grantor trust or an irrevocable trust the beneficiary will always be a natural person. Should you disclose the TIL or rely upon the exemption in Reg Z for organizations or entities?