For Mobile Home Purchases, do we report the address of the Mobile Home or the Collateral address for HMDA?
Are initial PMI disclosures required on non-owner occupied purchase transactions?
Does rescission always apply to HELOCs, but not purchase money? What about a refinance of a mortgage loan with the same lender and no new money; would rescission apply?
We are providing a primary dwelling secured loan to a consumer who owns the home free and clear. Since it is not a refinancing, is the transaction rescindable?
Is the refinance of a loan to be secured by shares of stock in a cooperative corporation subject to the right to rescission under Reg Z? The borrower does not own the property, he/she owns shares of stock in the cooperative which allow him/her the right to possess the unit. The cooperative corporation owns the property.
In a question that was posed to Patricia Cashman on 7-19-10 concerning HPML and modifications, she stated that escrow will not apply to a true modification. Could she please show me where that can be found in the regulation. I have looked and can't find this. I have this situation and I need more clarification.
We have a HELOC with the borrower's personal residence securing the loan. Since we can not renew a HELOC that has reached maturity, we are in the process of refinancing for another term. Can we modify the existing deed to extend the maturity or is it necessary to record a brand new deed?
If we refinance a primary residence loan and add new money, but do not exceed the original amount of the deed of trust, is right of rescission required?
Is purchasing a time share, using the person's primary residence as security, HMDA reportable?
We are refinancing a home that is not owner occupied, but is also not a rental property. The borrower’s sister lives in the home and it is her primary residence. Who has the right to rescind?