03/24/2024
A broker sends a potential borrower to the bank. He wants to pre-qualify for a loan that will be a finished house in a builder's subdivision which is represented by the broker. The dwelling will not be finished for 6 - 12 months. The bank received the application from the broker and pre-qualifies (no pre-approval program) for a later date. There would not be any early disclosures at the type of the pre-qual, correct?
03/17/2024
I am commercial loan broker, I have applied my client for an SBA 7a Loan, and we are near closing. The appraisal report is done, but the banker with whom I communicate, said to me that the appraisal is only available after closing. Aren't they allowed to send it, or he is doing it on purpose so we don't go with another lender?
09/04/2022
Is it okay to request gender information on deposit application?
09/05/2021
Is use of a general AAN turndown reason such as: “Unqualified co-applicant” considered specific enough for Reg. B compliance or should a general turndown reason like this be avoided?
08/22/2021
Does vehicle voluntary surrender apply in conventional close-end loans?
08/22/2021
Does the DMDC database include dependents of a covered member?
08/15/2021
What is fair servicing?
07/18/2021
What is the rule on tolerance of what the lender is allowed to change on loan documents after the closing of the loan?
03/08/2020
Please define differences between a withdrawn loan request by the customer and a denial of a loan request by the bank.
03/03/2019
I have questions that bother me when I dealing with a commercial real estate transaction where a residential property is taken as collateral. When does the Notice of Right to Receive a copy of an Appraisal apply? I have seen many different concepts in the internet regarding to dwelling:
- A 1-4 residential property which is the borrower or guarantor's principal residence;
- Any 1-4 residential property which is the borrower's principal residence, and it is going to be refinanced; or
- Any 1-4 residential property taken as collateral in the commercial real estate transaction.
I would like somebody clarify which is in compliance. I am in Florida if that matters.