Latest Compliance - Real Estate Lending Topics

Model Letter for Extending Offer to Escrow (Flood)

10/11/2015

Is there a model letter that is available to send to borrowers to extend the offer to escrow for flood insurance on their loans, if the loan is still outstanding on 12/31/15?

Call Feature for Home Equity Loan

09/27/2015

Can a home equity loan in Texas have a call feature (e.g.-15 amortization at 5% fixed with a three year call)?

Purchase/Renovate Home: Bridge Loan and RESPA?

09/27/2015

Is this a bridge loan? The loan is to purchase and renovate a home, only using the home being purchased for collateral. Term 180 days, closed -end line (for improvements). The loan will be paid off with the sale of current home. Does RESPA apply?

Disclosures Required for Interim Construction Loan

09/27/2015

What disclosures are required for an interim construction loan?

Existing Balloon Loans Maturing After 1/9/16

09/20/2015

The ability for small banks to make balloon loans is set to expire on 1/9/16. If we have existing balloon loans maturing after 1/9/16, can we modify the balloon loan and keep it as a balloon loan or will we still have to convert that loan to an ARM or loan term fixed rate product? We would not be extinguishing the note and not initiating a new loan.

Six Criteria for Private Flood Insurance Policy

09/13/2015

What are the six criteria a private flood insurance policy must meet?

Non-Borrowing Spouse Required to Sign Final TIL?

09/13/2015

On a purchase transaction, is a non-borrowing spouse required to sign the final TIL?

Does RESPA Apply to a Mortgage on over 25 Acres?

09/07/2015

I am making a loan on real estate and I am taking a mortgage on two tracts of land. One tract consists of 30+ acres and the other consists of 1.04 acres and a primary residence. Would this loan be subject to RESPA since I am taking a mortgage on over 25 acres?

Reviewing a Loan to Possible Purchase

08/31/2015

If the initial GFE did not list the name, address & phone number of originator can they do a revised one and be okay or will they have to use $0.00 on the HUD-1 comparison and pay the borrowers the difference between $0.00 and the actual cost?

How to Report Loan on LAR

08/31/2015

I have read conflicting discussions about how to report a loan on the LAR. We have a loan secured by the primary residence, proceeds used to purchase a piece of rental property. Which property should we report?

Vendor Guru Q&A's - Compliance

Compliance tiers for Dodd-Frank Section 1071

Data privacy & Section 1071

Batch processing vs. transaction level processing for deposits automation

Section 1071

Exception management and better audits

Resolving credit and loan document exceptions

Proactive loan exception management

Tracking loan policy exceptions

Reasons for loan policy exceptions

Audits and document management

When DOESN’T Zero Liability apply?

10/15/2023

Since Visa’s Zero Liability covers ATM withdrawals and PIN transactions. It is even worth investigating Reg E claims since we are always on the hook?

Business debit card disputes

10/15/2023

Since Reg E does not apply to businesses, do we have to investigate a fraudulent business debit card transaction?

Debit Card Dispute Documentation

10/08/2023

Can we require a copy of a customer’s receipt if they are disputing the amount of a charge?

Is a lawyer a beneficial owner?

10/08/2023

Does a lawyer exercise substantial control and therefor a beneficial owner?

Mobile deposit chargeback and indemnity

10/08/2023

My back accepted a mobile-deposited check that was returned by the paying bank as “previously paid.” Our depositor has apparently left town – his account with us is closed. The paying bank told us the check had been mobile deposited at a local credit union two days before it was deposited with us. Do we have any claim against that credit union to recover our loss?

Latest Compliance - Real Estate Lending Topics

Pages

Pages