01/19/2004
What required disclosures to you need on a HELOC ifthe main purpose of the loan is to purchase the borrowers' house? They are only asking for $40,000.00? Do you need an early truth in lending disclosure or early good faith estimate and any other early disclosures?
01/19/2004
Does the right to rescind apply when we are just "swapping properties"? We currently hold a 2nd mortgage on a property. That property is being sold and we would like to replace the mortgage with the new property, but not refinance the loan. Does Reg Z apply to this transaction? No new money is involved. Original lender.
01/05/2004
Is a Construction to Permanent loan subject to right of rescission if we also hold the Construction loan?
12/15/2003
Is there a 3 day right of rescission on a Home Equity Line of Credit?
11/03/2003
What are the required number of days before funding on a home improvement loan? I understand it was changed to 5 days, fund, then the 3 days right of rescission.
09/01/2003
Question: We have a home equity line of credit where we forgot to give the customer the right of rescission.
08/18/2003
I am doing a loan for a purchase of primary residence. The loan and note are in Mr. X's name. Mrs. X will be signing on the mortgage only. Do they both get preliminary disclosures?
08/18/2003
If a bank makes a loan subject to HOEPA without proper disclosures, how can the bank cure the violation?
08/18/2003
Some branches of a bank are open on Sundays. I have two questions concerning business days and Reg Z: 1. Would the bank be considered "substantially open for business" if they take loan applications, disburse loans, take deposits, and make withdrawals at only certain branches on Sunday? (not all the branches are open on Sunday) The back office/operations staff does not work that day. If so, when calculating the 3 business days for early TILs, would they count Sunday as a business day for loans closed at all branches or just the ones opened on Sundays? 2. The definition of business day in Reg Z states that Sunday is never a business day for right of rescission. If this same bank closes rescindable loans on Sundays, when do we begin counting the three days?
08/18/2003
This question would pertain to compliance, marketing and lending. Our Bank would like to offer special financing for our flood victims in our area. I need direction, as far as, being compliant.