Most Popular Lending Content
Understanding credit bureau score decisioning
07/07/2024
Are lowside and highside tracking used with credit bureau score decisioning, or does that just apply to decisioning with a custom pooled data scorecard? If so, what are appropriate thresholds?
Notifying borrower of an increased appraisal fee
07/07/2024
I am sending a revised Loan Estimate for an appraisal fee increase. What verbiage do I use to justify that the appraisal transfer invoice shows the fee is now $575 versus the $430 which was initially disclosed. This is an appraisal transfer from another lender., and I am not sure what the correct verbiage would be for this change.
Rate sheet
07/07/2024
Are we required to use a rate sheet for commercial loans?
Integrated disclosures, Pol/Proc, Reg Z
06/30/2024
If our policy is to not disclose Title Insurance on loans less than $300,000, could a Change in Circumstances such as an error allow us toredisclose with title insurance, if this can be done within 3 days of being notified of the error? If so, would this cause the closing date to be moved further out?
Explaining discount points on mortgage loans
06/30/2024
If I am making an informational post about what mortgage points are and I state, "Each point typically costs 1% of your total loan amount and can reduce your interest rate by a fraction (usually 0.25%)," is that technically a method of determining a finance charge and subject to additionaldisclosures per section 1026.16? I should note that this post is an explanation of what discount points are, and not necessarily an advertisement for a specific product, but also I'm not sure there are carveouts from the provision. Any help would be greatly appreciated. Thank you!