Most Popular Lending Content
Recording Fees on the TRID Closing Disclosure
08/25/2024
I have discovered that the Other Costs section of our Closing Disclosure does not list the mortgage release fee of $27 in the details, but it is included in the total amount of Taxes and Other Government Fees. I was told that it can be seen in nCompass, but doesn't pull over to the Closing Disclosure. Is the description of each fee required to be listed under the Other Costs section of the Closing Disclosure?
Managing construction loan disbursements
08/18/2024
Can a dividend-bearing restricted account be used instead of an escrow account for a construction loan?
Streamlining audit preparation with electronic loan documents
08/18/2024
Why might a virtual audit preparation require less administrative effort?
Documentation of approved/withdrawn applications
08/18/2024
I am auditing our withdrawn files. I was looking at a number of Approved-Withdrawn files and I was wondering if any documentation or any notation is needed?
The ARM notice is giving a customer major heartburn
08/11/2024
A customer just received her initial ARM adjustment rate notice, and is kind of flipping out. She thought she was paying a lot more toward principal, and with the rate now adjusting up, she is even more dismayed to see how much will be going to interest. Do we HAVE to break down the principal and interest amounts on her ARM notice, or may we just say the total projected amount?