Most Popular Lending Content
Rate sheet
07/07/2024
Are we required to use a rate sheet for commercial loans?
Are buydowns the same as discount points?
07/07/2024
Are buydowns the same as discount points?
Reporting business purpose loans under HMDA
06/30/2024
Must business purpose loans be reported?
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!