Most Popular Lending Content
Postponing a new loan at borrower's request
01/12/2025
I have a customer application for a home loan to be used for home improvements. We have run the credit report and approved the application, and she has signed the intent to proceed. We just got back the appraisal. Now, she has says that her contractor may be 5-6 months away from beginning her project and she wants to wait until then to do the loan. Am I able to let this sit that long? How long can we sit on this same application? I've never had something like this happen before.
Reason to connect an LOS with a document management system
01/12/2025
Why might a financial institution build an interface between its LOS and document management system?
Approaches for extracting documents from an LOS
01/12/2025
What are some common approaches for moving documents from an LOS to other systems?
TRID property addresses for multiple property loan
01/05/2025
Our institution does bridge loans where we take both the property being purchased and the borrower’s current primary residence as collateral. Both properties get listed on the Note and Mortgage. These are treated as a purchase. Do we need to disclose both addresses for this type of transaction on the LE and CD, or would that only be the case if they were refinancing multiple properties or purchasing multiple properties in one transaction? Would the fact that they are purchasing a new home using the equity in the current home that will be sold make it so we would not have to disclose both addresses and only the property being purchased? Currently, I think we would have to disclose both, but want to ensure I am interpreting comments 1026.37(a)(6)-3 and 1026.38(a)(3)(vi)-2 correctly.
Reporting Nursing Facilities
01/05/2025
Should skilled nursing facilities be reported as owner-occupied or non-owner occupied in a Call Report?