09/20/2010
Where do we put the fee for tax return verification service (4506T) on the GFE and HUD? Is this fee a prepaid finance charge?
09/20/2010
Our compliance department has determined that GMI is not required for mobile home loans without land. Is this correct?
09/13/2010
On a RESPA applicable loan, can I check the cross collateralized box on the Deed of Trust just as general practice, or will this create a compliance issue?
06/07/2010
What kind of documentation does a bank need to retain in a file for compliance/auditing purposes to show that they had permission to pull a customer’s credit report prior to an application?
04/19/2010
A lender approved a mortgage loan and did not gross up the customer's social security income, so for HMDA reporting, I used what the loan officer came up with in determining his income. Now, upon reviewing my quarter-end HMDA reporting, the HMDA compliance officer claims the social security income needs to be grossed-up and that I should change my HMDA LAR to reflect this change. Is this correct? I thought that I was to report my HMDA according to the data used to approve the loan application. Please clarify this for me.
04/12/2010
Will you explain the difference between a prequalification and a preapproval for HMDA, RESPA and OCC purposes?
03/01/2010
If a customer has applied for a construction loan, and at the same time we considered that application we submitted a loan prospector to Freddie Mac to pre-qualify for the end loan, when do we have to send the earlies for the end loan? There is a six month lapse between construction to perm. Do they need to fill out a new loan application for the purpose of the earlies being dated in time with the end loan?When an applicant applies for a debit card and is denied, I understand that if you use a third party for credit checks, then you must follow the FCRA guidelines on denying that customer, but is there a reg or guideline used when you don't use a third party to collect credit info, based on bank information, such as a repeated overdrafted accounts?
02/01/2010
I would like to know if the Credit Score Disclosure Statement is required for a one-four family real estate loan to purchase rental property?
04/06/2009
Our bank is preparing to provide a blank real estate loan application on our website which the applicant can print off, manually complete and bring into the bank. Do we have to provide a CHARM booklet and loan program disclosure on our website with the blank application?
01/19/2009
Is it appropriate for a bank to ask a customer what age group are you in and what age do you plan on retiring?