Most Popular Lending Content
TRID Question
12/08/2024
We closed a refinance transaction on Monday and gave the 3 day right of rescission. The loan was for $250,000 and is a 15 year. This morning he contact us and they are starting to worry about the payment amount on the 15 year. They are asking if they can pay down $50,000 and change the term to a 30 year. We have not ever had this happen. Our question is does this trigger then to use the 3 day and cancel the transaction and start over or do we fund the loan into our MPF program, wait the 60 days and then do a modification?
Milestones and the life of the loan
12/08/2024
What are some key milestones in the life of a typical loan?
Loan officer credits to borrowers
12/01/2024
Can a loan officer give a borrower a credit from their lender paid compensation?
Document backlog at a bank
12/01/2024
What is a “document backlog”?
Customer service issues caused by paper documents
11/24/2024
How might a paper-based approach lead to customer service issues?