Most Popular Lending Content
Listing Insurance on HUD-1s
06/17/2002
Our company supplies compliant software to banks.We have several banks who disagree on whether credit life and A&H insurance should be shown on the HUD statements.It is shown on the final TIL in its own section, but from reading HUD instructions, I do not see that it is a requirement.What is your opinion?
Cooling Off Period
06/17/2002
Is there a 12 day cooling off period for home improvement loans?
Consumer Protection in Insurance - Not for Businesses
06/17/2002
For the new rules on Consumer Protection Insurance Sales, if a business loan is made and credit life is offered to the owner, does the disclosure requirement apply?
Explaining Reg D
06/17/2002
What's the simplest way to explain Reg D to Branch personnel?
Completing the HUD-1 in a Complex Transaction
06/17/2002
If a single loan involves the sale of land and the sale of a dwelling, and the seller of the land and the dwelling are different, how should the HUD-1 be completed? A perfect example would be the purchase of a manufactured home where a dealer is selling the borrower a home, and an individual is selling the borrower the land to which the home will be affixed. Similar issues would arise in traditional construction situations where the borrower is buying land from someone other than the builder. Should the HUD-1 only address the land sale on the seller's side? Should two HUD-1s be prepared? Can the HUD-1 be altered to provide two seller's columns?