Most Popular Lending Content
Implementing a Foreclosure Prevention Philosophy
08/20/2012
What strategies should community banks implement to prevent foreclosures from occurring?
Appraiser Authorization to Give Out Appraisal
08/20/2012
Under the new Appraisal Guidelines, I am told we must have the appraiser's authorization to give out his appraisal to anyone. If we are using an old appraisal (or an ORE appraisal) for a new loan, do we need to contact the appraiser to get his permission before we give out the Notice of Right to Receive Appraisal? Would this also pertain to giving out parts of the appraisal to any prospective purchaser of an ORE property?
App Withdrawn for Consumer Loan Application
08/20/2012
A consumer loan application was taken by phone. The next day the customer withdrew the application because she had decided to finance through the furniture company which offered 12 months same as cash. At the time of application, the lender pulled credit and printed the Insurance Disclosure for Credit Application. Does the Consumer Credit Score Disclosure and Insurance Disclosure need to be mailed to the applicant even though the application was withdrawn and never signed?
Refi w/1-4 Family Collateral-HMDA Reportable?
08/20/2012
We use a cross collateralization-cross default clause in all commercial loans. If collateral includes 1-4 family residences, in a refinance, is the loan HMDA reportable?
Owner Pledging Home for Borrower-RESPA?
08/20/2012
I have a first mortgage loan on a 1-4 family dwelling, owner occupied. However, my loan is not for the owner. The owner is pledging the home for our borrower. Is this a RESPA loan?