Most Popular Lending Content
Recalculate Flood Coverage When In Force Place?
07/22/2013
I have a flood question. When the borrowers existing policy lapses and we are in a force placement situation, do we have to recalculate the required coverage amount?
1099 Required for Cost to Cure TIL Violation?
07/22/2013
If a bank is paying a cost to cure to a borrower for TIL violation, does a 1099 have to be filed? Is there any official guidance on this matter?
Subject to MDIA if Not RESPA? (Temp Loan)
07/22/2013
We are doing a temporary loan to purchase a flooded home and remodel the whole structure. Our loan is a closed end line of credit with a one year term. We will be providing the permanent financing when the home remodel is completed. This will also be their primary residence. Is this transaction subject to RESPA? If it is not subject to RESPA, it wouldn't be subject to MDIA, correct? And would it be considered a construction loan?
Different Origination Fees for Each County?
07/22/2013
We have banks located in different counties, can you charge a different origination fee in either county to be competitive in both markets?
FI Required if Prop in Flood Zone Not Structure?
07/15/2013
What if the flood determination says the property is not in a flood zone but the appraiser says it is? A portion of the property is in a flood zone but the structure is not. Would flood insurance be required?