Vendor Guru Q&A - Compliance

Latest Compliance - Real Estate Lending Topics

Estimating construction loan interest

05/15/2016

How is interest estimated for a multiple advance construction loan?

Disclosure of Property Value instead of Sales Price

05/08/2016

When do we disclose Property Value instead of Sales Price?

Flood notifications required upon modification?

05/01/2016

If we modify a loan that we are servicing and it is already in a Special Flood Hazard Area, do we have to provide another flood notification?

Timing of disclosures in a construction/permanent loan

05/01/2016

When must the Loan Estimates be delivered when we provide separate disclosures for construction and permanent financing?

New Loan Estimate/Closing Disclosures

05/01/2016

If a bank pulls a credit report on a home loan but absorbs the cost and doesn't charge the borrower, it used to be reported as POC by Lender. How does it get reported on the New Loan Estimate and/or Closing Disclosures?

Timeliness of flood map notices

04/24/2016

What is an acceptable timeframe for our flood vendor to send life of loan monitoring updates for map changes? It seems our vendor sends them out once a month, but they are dated throughout the past 30 days. Would it be acceptable to send notices to customers within 1 week of receipt of life of loan update?

HELOC forbearance agreement and disclosures

04/10/2016

My question pertains to HELOC transactions, which are open-end credit secured by real estate. Does a forbearance agreement require a disclosure if an Equity Line Credit Agreement and Disclosure comes after the original maturity? Is there any resource or link directing me to a regulation?

Flood determination after map change?

04/03/2016

If our flood vendor notifies us of a map change, does this mean we need to order a brand new flood determination?

Prepaid finance charge

03/20/2016

Are lender paid prepaid finance charges included in the amount financed calculation?

Impact of fee disclosures on HMDA reporting

03/13/2016

The changes to HMDA are not effective until January 1, 2018, so what is the fee concern related to HMDA at this time?

Reg E and mobile payments

09/24/2023

Our customer received a call telling them their CashApp account was compromised, and they needed to verify the password. After they did this there were several authorized CashApp transactions. Can we tell the customer they have to resolve the issue with CashApp?

Kick off January 1, 2024?

09/24/2023

Is the beneficial ownership national registration set to commence on January 1, 2024?

Which regs actually requires employee annual train

09/24/2023

What topics or regulations are required yearly training for bank employees?

Best Practices - Internet Gambling Procedures

09/24/2023

How do other institutions monitor for Reg GG and internet gambling as it seems to be increasing and is advertised greatly on TV now?

Error Claims and Provisional Credit

09/17/2023

A customer purchased KETO Bites and states the cost was $39.99. She immediately received an invoice along with charges to her account for the amounts of $59.99 and $239.99, not for the $39.99. Does provisional credit need to be given for those amounts and is the dispute considered fraud?

Latest Compliance - Real Estate Lending Topics

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