01/24/2016
Is the Kentucky Insurance Disclosure required on all loans, consumer and commercial, or is it just a consumer (Reg Z applicable)
requirement?
12/27/2015
When making a RE loan on unimproved land is a FACT disclosure required?
12/06/2015
I have a borrower who is using a CD as security for a loan to purchase a vacation home. What if any disclosures are needed?
11/29/2015
Are there any disclosure requirements on a customer's receipt for a deposit at a teller window.
11/22/2015
We will be sending letters to our customers with grandfathered NOW accounts informing them that accounts will be switched to Super NOW accounts,
regular checking accounts, etc. What information is required in the letter we provide to the customer, and is there a timing issue?
11/08/2015
Are there set rules on the Cash to Close changing from the LE to the CloD? For example, borrower requests a cash out refinance. The LE discloses in the Cash to Close section that they will be receiving $50,000. We find out prior to closing they want to pay off a loan and receive the leftover money at closing. So the money to the borrower has drastically been reduced. Are the changes in cash to close regulated by certain guidelines?
11/01/2015
How do lenders disclose specific Lender Credits on the Loan Estimate? My bank does NOT offer GENERAL lender credits for secured home improvement loans but we do not charge the borrower for a title search ($60) or for a flood report ($10). Which of the following ways do we disclose such SPECIFIC credits?
(1) The bank should itemize these fees on page 2 of the Loan Estimate and then show a Lender Credit of -$70 to offset these fees. Later, the Lender Credit row on the Closing Disclosure will be blank since these two specific credits would show under the column "Paid by Others." Thus, Lender Credits will be -$70 on the Loan Estimate but later blank on the Closing Disclosure.
(2) Since these two lender credits are specific and are equal to the fees the bank pays to the title company, the two fees would NOT appear on the Loan Estimate and Lender Credits would be blank on the Loan Estimate. However, the Closing Disclosure will itemize these two fees as "Paid by Others" with the Lender Credit row on the Closing Disclosure being blank.
(3) Some other way instead of option 1 or 2.
01/12/2015
For a variable rate CD do we have to send a new disclosure every time the rate changes?
10/20/2014
Are we required to produce an annual Change in Payment Disclosure if the rate doesn't change on an ARM?
06/16/2014
Our bank is financing the purchase of a home. Buyers are currently renters and are now purchasing from the estate. Buyers do not have the required 20% down payment so they are entering into a second mortgage loan with the Sellers/Estate.
The initial disclosures did not mention the $30.00 mortgage recording fee for the mortgage the Buyers and Sellers will have between them.
Do we have to re-disclose because we did not list the private party loan expenses?