Most Popular Lending Content
Charging a Technology Fee on Mortgage Loans
02/02/2025
Our management team wants to charge a Technology Fee on mortgages to recoup a portion of the cost of our technology costs (things like our LOS, POS, and verification services). The want to make it a blanket fee of around $275. I cannot seem to find any specific regulatory guidance on what a "Technology Fee" can include, but I am unsure whether we can charge to recoup the cost for tools we use for processing. Please advise!
Sources of information for doc prep
02/02/2025
What sources of information are used by doc prep teams when booking loans to the core?
Documents generated by doc prep teams
02/02/2025
What types of documentation are generated by doc prep teams?
Is this Commercial Mortgage Loan HMDA Reportable?
01/26/2025
We have a commercial loan to an LLC for a purchase/construction loan for 18 months. the loan will be paid off when the property is sold. would this be HMDA reportable? if so, would we report this as a purchase?
Timing of checks for active duty status
01/26/2025
Is the Military Lending Act disclosure required on loan renewals? Does it have an expiration date of when it should be pulled? For example, if the loan was prepared in October, but didn't close until February would I need to pull another MLA status report?