We sent a new disclosure to inform a consumer of an inadvertent APR error. Is this OK?
04/28/2024
If we find a loan’s APR is outside of tolerance, can’t we just send a new disclosure showing the correct APR to fix this inadvertent error?
04/28/2024
If we find a loan’s APR is outside of tolerance, can’t we just send a new disclosure showing the correct APR to fix this inadvertent error?
04/21/2024
I keep hearing about junk fees everywhere. I work on the loan side, though, and it seems like everything is on the deposit side. Is there anything I need to be aware of for loan fees?
04/17/2024
May we charge a monthly “Returned Mail” fee on our customers who have bad addresses that return mail as undeliverable?
04/14/2024
Does the NMLS ID# number need to be included on HELOC agreements and Deeds of Trust / Mortgages?
04/07/2024
We have a small credit card program and portfolio. Do we need to lower our credit card late fee to $8?
04/07/2024
I’m so confused! I’ve heard conflicting advice: that Mortgage Loan Originators do and do NOT have annual training requirements. I thought Reg Z required it, but I have MLOs pushing back. Help!
03/31/2024
If a customer deposits a check into their account with us, and that check is returned to us as unpaid, may we charge them a fee when we do the chargeback?
03/24/2024
I work in HR, and know that our Executive VP earns a substantial annual bonus. He does not really do any real estate lending, but often says he makes more loan deals on the golf course than anywhere else. I assume this includes home loans. Up to this point, he has kept his NMLS ID # and registration current “to CYA”. I’m concerned his bonus may be non-compliant with Loan Originator Compensation requirements. Should I be worried?
03/24/2024
Our Board Chairman’s daughter has opened her own business and wants a loan from us. She is on it all by herself and he will not be a guarantor. Is her loan subject to Reg O?
03/17/2024
Who should manage the NMLS registration for our Mortgage Loan Originators (MLOs)? Is that an HR function, or should compliance do it?