Most Popular Lending Content
Must All Investors Sign GFE? (Investment Property)
07/29/2013
Regarding an investment property, if I have 3 investors, must all 3 sign the GFE?
Improved Prop Considered Owner Occupied or Non?
07/29/2013
Applicant currently rents, and has been funding improvements to a different property out of pocket for the past 5 years. Applicant has applied for a Home Improvement loan to fund the rest of the improvements, and has stated that the intent is to have the improved property be the primary residence once complete. Would the property being improved be considered owner occupied, or non-owner occupied?
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?