Most Popular Lending Content
Credit Report and Adverse Action Notice
08/19/2013
In a situation where our collection department is pulling a credit report in order to approve a short sale or other action and the account isn't 30 days delinquent should we be sending an adverse action notice if we decide not to approve the request?
RESPA Disclosure Required for HELOC (Not a Purchase)
08/19/2013
On a first mortgage HELOC (not a purchase) what RESPA disclosures are needed and when can the loan be closed?
Interagency Guidelines on Ordering 2nd Appraisal
08/19/2013
When the borrower is upset or disappointed in the appraised value of their home, are we allowed to order a second appraisal at their request per the Interagency Guidelines? Who then decides which appraisal to use? The underwriter and the borrower may not agree.
Escrow on Commercial Building Purchase?
08/19/2013
Can we escrow on a commercial building purchase?
Re-Print GFE If Change Address (Not Circumstance)
08/12/2013
If a loan officer issues a GFE prior to a property being identified, is it okay for them to re-print the GFE with the address once it has been identified and have the customer sign it? Nothing as far as fees has changed, so there is no real change of circumstance- more of an update with the address. And would we be okay listing real-deal or something along those lines on the change form just to document why it was re-signed? In the market I am in, identification of a property would not make a difference in the fees being disclosed on the GFE, just want to make sure by doing so that we capture all the needed information and correctly document changes.