09/23/2013
Would a trust be considered a legal entity or natural person when it comes to Truth in Lending, RESPA, and HMDA disclosures?
03/18/2013
I have a question regarding HMDA. I am doing a business loan to a dentist, Joe Dentist, DDS and the purpose is a refinance of existing debt secured with his principal residence. Do I collect GMI information and report his race, sex, ethnicity and income or treat as a business and report as 4,7,4 & N/A?
01/21/2013
If I as a lender choose to use a mobile home for collateral on a loan where the purpose is to go on a vacation, does the loan require government monitoring information?
12/17/2012
When calculating PMI in the APR, I know that the up front PMI app fee, premium and reserves are calculated into the apr. What I would like to know is that if the PMI payments over the life of the loan is calculated into the APR also?
06/11/2012
We have an individual requesting a business purpose loan secured by her home. Do we complete the government monitoring section of the application? We are not HMDA reportable. Also, is the loan originator section of the application required to be completed by the MLO?
04/09/2012
Do you report the ethnicity, race, and sex of a co-signer on a HMDA reportable loan?
03/19/2012
Do I have to collect GMI for a business line of credit that is secured by the principal's residence? The line is for working capital and not home improvements, or refinancing a loan.
02/27/2012
I have a commercial loan for a residential rental property. The borrower is an LLC and the members of the LLC are listed as guarantors. How do I report HMDA ethnicity, race, etc?
02/06/2012
Under the current Truth in Lending payment schedule guidelines, payments on FHA loans with MIP are shown as …for example 111 payments $1782.57 to 1726.23 249 payments $1489.01. I believe the correct input in APRWin would be: 111 $1726.23 And then 249 $1489.01. Why is the input valid using the lower payment amount ($1726.23) and not the higher ($1489.01)?
01/30/2012
Regarding when to collect government monitoring information,if a loan officer did not disclose and collect gmi at the time of a loan application,is a bank allowed to gather gmi after closing.