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Latest Compliance - Real Estate Lending Topics

From social media to the website

11/26/2023

We include the EHL logo on our website where we offer home loans. We also use Twitter and Facebook, but do not use it there because it is on our site. Are we OK?

Send E-SIGN with Disclosures

11/19/2023

What is demonstrable consent and can we do that with new account disclosures we email the new customer?

Member FDIC on the WWW

11/19/2023

Is there an FDIC requirement that the "Member FDIC" logo be on all our pages and link to the FDIC website?

Does RoR apply to a bridge loan?

10/29/2023

Will the right of rescission apply on a 12-month bridge loan to purchase the borrowers secondary dwelling, using their primary dwelling as collateral also?

TRID disclosure error, correctible?

10/22/2023

The list of service providers we gave out has a mistake on it, The lender inadvertently put two providers in one box, One of these providers is an affiliate, the other provider is a third party, The contact information for the third party is right, but how the providers name is displayed as lenders affiliate-third party, would this be an issue? My concern was it would hinder borrowers ability to shop, also an affiliated business disclosure would be required. What are your thoughts?

New Escrow on Existing Loan

10/15/2023

We had a customer ask to start a voluntary escrow account on an existing loan. Do we need a new agreement?

Escrows, more than dirt

10/08/2023

While auditing a mobile home loan I saw escrow statements. Isn’t this unnecessary since RESPA doesn’t apply when we don’t have real estate as our loan collateral?

HMPL Error Correction

10/08/2023

We found an HPML in our audit. There is no escrow set up. What can we do?

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Stopping Preauthorized Payments

10/20/2024

We currently have outside counsel providing what I believe is inaccurate guidance. However, I'm struggling to find resources I can use to refute their regulatory interpretations. Specifically, this applies to a consumer's right to stop payment under 1005.10(c). Can you please advise how these requirements apply to: 1. Preauthorized transfers for loan payments (we are the lender/servicer) drawn on both external (we obtain debit authorization) and internal deposit accounts; and 2. Preauthorized bill payments both issued against the bank's/vendor's account and debited directly from the consumer's account. We hold the consumer's deposit account and offer the bill pay service.

'Member FDIC' in trust department ads

10/13/2024

Our bank has a trust department and they want to run an advertisement. Does "Member FDIC" need to be included in the ad? The ad will state something like, "We can help you with your Trust and Estate Planning."

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