Linda Westfall is Excecutive Vice President of McCormack and Associates, inc., a company offering management solutions for the financial service industry.
Linda has 33 years of banking experience, and degrees in accounting and computer science. She worked in community banks for nine years and has been a consultant with MAI for 24 years. Her banking experience includes:
Linda received the Certified Bank Auditor designation in 1991 and the Certified Regulatory Compliance Manager designation in 1994.
You may contact Linda at: linda@mccorm.com or visit their Web site at http://www.mccorm.com
01/15/2001
I am reviewing an Adjustable Rate Mortgage initial disclosure and I do not find a statement that the interest rate will be discounted or a statement that the loan contains a demand feature (the Note does contain a demand feature). I am wondering if both of these disclosures are required on every initial ARM disclosure or only loans that have an interest rate discount and a demand feature.