Latest Compliance - Estate Topics

Finding the Regs

07/01/2002

I need a complete copy of what Reg H says, is there a Web site that will give me details of each regulation or some other place I can look?

Alligators in the Swamp

06/09/2002

Flood Certifications and Loan Assumptions

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.

Real Estate Tax Information On The GFE

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.

Revocable vs. Irrevocable Trusts

04/01/2002

What is the difference between and irrevocable trust and a revocable trust?

Allowing Contingent POD on a CD: Is this wise?

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?

Mortgage Loans, Credit & Appraisal Costs, and Application Fees

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.

Real Estate Loan Modification & RESPA

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?

IRA Beneficiary Designations

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?

Are attorney's fees considered a finance charge under Reg Z?

02/04/2002

Are attorney's fees considered a finance charge under Reg Z?