07/01/2002
HUD wants to simplify the real estate settlement process for consumers, augment the ability of consumers to shop for settlement services, and improve disclosures required by RESPA.
06/09/2002
By Howard A. Lax, Esq.
Lipson, Neilson, Cole, Seltzer & Garin, P.C.
Troy, MI
06/03/2002
A real estate loan is going to be "assumed". Will I need to order a new flood certification? We have one from the original funding.
05/20/2002
At our last FDIC exam we were told that we need to list the real estate property tax figure on the Good Faith and Settlement Statement. We do not escrow. Our question is which property tax figure do we use, the current year's.
04/01/2002
What is the difference between and irrevocable trust and a revocable trust?
03/11/2002
I realize that deposit accounts are governed by state law, however, I'd like to pose this scenario and get your opinion. We have a customer who requested a "contingent POD" on his CD. Researching Tennessee law, I found nothing that would disallow this, but are there any issues here that we might encounter problems with in doing this?
03/04/2002
If a bank requires an upfront deposit on a mortgage loan application for appraisal and credit report fee costs, is this considered an application fee that must be charged to all applicants even if the application is declined prior to incurring the charges? Reg Z seems contradictory on this issue since appraisal and credit report fees are generally not to be considered finance charges in a real estate transaction.
02/11/2002
If you do a real estate note modification to an existing note, and additional funds are advanced, resulting in a modified loan with a new balance in excess of the outstanding loan balance plus charges for the modification, is this considered a refinance or a modification under Reg Z and RESPA? Are new disclosures necessary, and does rescission apply to money advanced in excess of the outstanding loan balance plus charges related to the modification?
02/04/2002
IRA customer wants to designate as her beneficiaries her son and her daughter (5050), but if something happens to her daughter, she wants to ensure that her daughter's children receive equal parts of the daughter's share what does she need to do to make sure this happens?
02/04/2002
Are attorney's fees considered a finance charge under Reg Z?