Most Popular Lending Content
Use Cases for an ECM
04/27/2025
What are common use cases for an ECM in banking?
Offering loan application forms online
04/27/2025
We are considering putting our loan applications online as a PDF because we get asked a lot if we offer this. I am having trouble locating the do's and don'ts of this. Can someone please guide me in the right direction?
Refinancing a construction loan
04/27/2025
We are refinancing a construction loan to an amortizing monthly payment loan effective March 18, 2025 (the maturity date of the construction loan). Our early disclosures are dated 3/18/2025. Since closing must be at least seven days later, can we date the note March 18, 2025, even though the actual closing date will be April 4, 2025? If we can date the note March 18, 2025, does the customer have to pay interest from March 18 to April 4.?
Should fraudulent applications go on HMDA LAR?
04/20/2025
Are applications submitted with fraudulent information HMDA reportable if they reached an application status due to fraud? We have received a fraud trigger but it also reached application status for HMDA reporting.
Adding a prepayment fee
04/20/2025
We have a single-closing construction-permanent mortgage product (12-month construction, 29-year permanent mortgage). Would we be able to charge the borrower a 1% fee if they pay off the loan before it converts to the permanent mortgage, or would that be a violation? We know we cannot add the fee to loans that have already closed. This would be a change affecting future applicants for this product.