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Latest Compliance - Real Estate Lending Topics

Texas homestead and lien validity

02/16/2025

We have a situation where a customer owns a Texas property which is their homestead, and the only property they own. They are purchasing a home in Kansas and want to do a bridge loan for this purchase where by a lien is taken on the Kansas property and an additional collateral deed of trust is taken on the Texas homestead property. Since the deed of trust on the additional collateral does not become valid until the Texas property ceased to be homestead property and the property being purchased is not in Texas, is the lien on the additional collateral valid?

Member FDIC on the WWW

11/24/2024

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

Audit checklist for bank as mortgage loan broker

11/17/2024

I am looking for a checklist that auditors would use when doing an audit on a brokered mortgage, specifically when the bank is acting as the broker. Can anyone give me a suggestion as towhere to find one? I have been searching the internet but have not really found anything that would help me with this.

Hazard insurance on TRID disclosures

07/14/2024

If I am refinancing a primary residence, do I need to include last year's insurance on the loan estimate and closing disclosure as a POC fee? Or can I just leave it off because insurance and taxes are accounted for on my Initial Escrow Disclosure?

Borrower signatures on Right to Rescind notice

06/30/2024

When a right to rescind is involved in a real estate-secured transaction, we are trying to confirm if there is anything in the regulation that requires the borrower(s) to sign all copies of the notice of right of rescission, or only requires the borrower(s) to sign one copy for the lender and leave the borrower copies unsigned. We can only find where the number of copies to be provided is specified (two for each owner if on paper, one for each owner if delivered electronically).

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GMI Collection for a Bank, by a Broker

02/16/2025

If a broker submits an application for a multifamily loan to a bank on behalf of a mutual customer, is the broker required to collect HMDA GMI data? Say the customer "does not wish to provide" the data, would the broker need to collect the information on the basis of visual observation or surname and communicate that to the bank?

Who Gets the Adverse Action Notice?

02/16/2025

Our denial of a business deposit account application was based on the qualifile score of the individual applying for the business. Who gets the Adverse Action Notice?

Inside the CFPB – What’s Going On?

02/16/2025

What’s going on inside the Consumer Financial Protection Bureau (CFPB)? Perhaps the short answer is “turmoil.” Here’s the longer answer, based on what we know as of the date of this writing.

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