Where on a Loan Estimate would I put the fee for e-filing a mortgage?
The Closing Disclosure was given to borrower for their scheduled closing. On the day of closing, the customer asked for a $3,000 loan increase. Do I prepare a new Loan Estimate even though I've already given out the Closing Disclosure? The loan fees did NOT change....only a higher loan amount.
If our borrower hasn’t requested SCRA protection and is past due on her mortgage, can we start foreclosure as we normally would?
Are there any compliance/early disclosure requirements for a consumer loan that is a line of credit with a 1 year term secured by bare land? The land to be used for collateral does not have a street address nor will it per the county.
If we are doing a modification for an ARM Loan and the payment increases, some of our staff believe this is a "refinance", some do not. Thoughts? If so, -What do we need to provide to the consumer? There would be no costs associated - just the new terms with the new (current rate)? It doesn't seem like a CD would be appropriate - If not - then we would use our normal modification agreement.
We use the same review form for ALL our reviews. Is this compliant?
We are renewing a loan for $432,000 on a single-family dwelling. The renewal is “dollar for dollar” other than the closing costs that will be added in to the loan. Since this is over $250,000 and we are adding closing costs in, we’ve got to complete an appraisal, right?
We have a builder that gives a seller concession on all of their contracts. If the seller concession is more than the buyer needs they do not want us to reduce the seller concession amount. As long as we are not over the allowed percentage for VA/Conventional Seller Concessions, can we apply the balance of the remaining credit as a principal reduction?
We are trying to prevent reducing the loan amount at the 11th hour.
We are renewing a loan for a good customer that always pays on time. The subject property is a commercial retail strip center. Our appraiser has indicated they could charge a lower fee if we only need the Sales Comparison Approach. Is this acceptable?
When customers come in and say they want to get loan applications, why do we need to begin an interrogation?