08/30/2010
Our bank did a construction loan for a customer knowing that permanent financing would be done when home was completed. RESPA documents were given to customer when construction loan was done(preliminary disclosures, TIL, Good Faith etc). Now we are closing the permanent financing loan. Is there Right of Rescission on the permanent financing loan?
06/14/2010
My question involves a redisclosure of TIL combined with right of rescission. Using a real life 2010 calendar example, the redisclosed TIL was put in the mail on 4/2/10 (a Friday). Allowing three days mail time and three days for the TIL puts us to the following Friday, 4/9/10. Do I have then to wait until the following Saturday (the 10th) to mail the right of rescission forms, thereby allowing another three days mail time and the three days right of rescission, allowing me to disburse on 4/19/10?
05/03/2010
I received a loan that has a right of rescission violation. The loan was funded at closing and did not wait the rescission period. The officer told me that he will be rewriting this loan to get rid of this violation. Is this okay?
03/22/2010
Do the new HPML rules extend to a primary residence offered as collateral by a third party?
10/26/2009
If you give the customer corrected early disclosures, and you mail them, do you have to wait six days before getting the final documents signed? Do you have to assume it took three days for them to receive and wait another three days? If it is their primary residence, do you still have to wait another three business days before funding? Does the seven days and the three day waiting period on the early disclosures apply to rental properties as collateral, if the purposes of the funds is consumer, such as child education, buying a car, etc.?
10/12/2009
I have a mortgage loan involving a husband and wife who have both have ownership in the property being mortgaged, but the husband is the only one on the actual loan. I know his wife will need to sign the mortgage and right of rescission since she also owns the property, but does she need to sign the early truth in lending and the truth in lending disclosures too?
07/13/2009
Does ROR apply to a loan for the purpose of paying off credit card debt? We have an existing future advance deed of trust already in place at the borrower's primary residence that we will be using to secure the loan.
05/04/2009
We failed to give a timely right of rescission. How can a right to rescission notice violation be cured?
08/04/2008
What documents need to be given to a borrower when an application for a HELOC is received?
04/28/2008
Do we need a right of rescission disclosure when we are just changing the rate on the note? We do have first on the property. The purpose of the loan was to reimburse the borrower for home construction costs paid out of pocket.