07/15/2013
When a sole borrower of a consumer loan dies, should loan interest accrual cease immediately?
07/15/2013
We were notified several months ago that a customer died. She had a checking account and a home equity loan with us, both singly owned. We have locked the checking account so no activity can occur on the account until we receive the proper paperwork from the PR of the estate. No payments have been made on the home equity since the death of the customer and now loan servicing wants to debit the checking account to bring the loan current and then to debit the account monthly for the payment. Is this permissible or advisable?
07/01/2013
Can we use existing flood determinations (dated 12.2012) for new loan requests, when using the same property as collateral?
07/01/2013
If a Real Estate Loan gets closed and there is a tolerance violation of more than 0.125% from the most recent early TIL and the Final TIL; How do I calculate the reimbursement? This is the first time this has happened and I have made sure that there is no pattern of practice in this case.
07/01/2013
I have a business purpose loan to purchase commercial real estate. The client is allowing his home to be taken as collateral along with the commercial real estate. It's a first mortgage on the home. Could this be a HPML? Do any RESPA disclosures apply and is it HMDA reportable?
06/24/2013
We are making a loan in the amount of $4500 for one year against the borrowers primary residence for the purpose of paying delinquent real estate taxes. The rate will be 7.50% and total fees will be less than $528. The loan is not an HPML, but what about HOEPA? The APR will be over the 8.00% plus treasury but my fees will be less than $528.00. Is there any threshold for a loan amount to be exempt from HOEPA. Please advise.
06/03/2013
Questioning if either of these loans are HMDA reportable? Loan #1 commercial loan to refinance an owner contract loan on a 12 unit apartment building, no cash out. Loan #2 a commercial loan to refinance an owner contract loan on a mobile home park, that includes a single family rental, no cash out.
05/20/2013
On consumer real estate loans, when we have a tolerance issue between prelim disclosures to final documents, we have been providing a revised GFE at closing. Can you tell me if this is an appropriate way to handle this?
05/13/2013
Part 365 states in one section that the LTV limit for commercial real estate loans is 80%, yet in the definitions section of the rule it defines improved real estate, which has a LTV limit of 85%, as completed commercial. So which is it 80% or 85%?
04/22/2013
A borrower owns his home mortgage free. He borrows $30,000 to consolidate other debt. We secure the loan with his personal residence.The loan is HMDA reportable? True or false? I think is False.