Most Popular Lending Content
Variable Rate Disclosure-Auto Payment Deduction
11/26/2012
Are the variable rate disclosures of Regulation Z Section Section 1026.18 and .19 applicable to fixed rate mortgages and consumer loans that provide an interest rate discount if the consumer signs up for automatic payment deduction?
Counting Days- Appraisal Delivery Waiting Period
11/26/2012
My question has to do with counting the days for the waiting period for appraisal delivery. Can you close the loan on the 3rd business day? For example, if the appraisal is delivered in person on Monday, can the loan close on Wednesday or do you need to wait until Thursday?
Matching Census Tract # for Flood Determination
11/26/2012
While inputting HMDA data, I noticed the census tract number on the flood determination did not match the census tract number found on the FFIEC Geocoding website. Do these need to match and do I need a corrected flood determination?
All New Docs if Reduce Rate on HELOC?
11/26/2012
If we want to reduce the rate on a HELOC, do we have to draw all new documents or can we draw and have executed just a change in terms agreement.
Guidelines on Assumed Mortgage Loan
11/26/2012
I need some guidance on handling an assumed mortgage loan. Our bank has never allowed an assumption before, but, have now approved one and want it to close Friday. Don't we have to do new RESPA & TIL disclosures on the remaining balance? Is timing the same as a new loan?