Skip to content
 

Latest Lending - Mail Topics

REG Z-Periodic Statement for HELOC

06/11/2012

Is a HELOC that is not tied to a credit card or overdraft account, that is a fixed rate with fixed monthly payments required to have a periodic statement monthly?

HMDA App by Mail w/o Govt Monitoring Information

06/04/2012

For HMDA purposes, when an application is received by mail and the applicant selects that they do not wish to provide the government monitoring information but still answer the questions of ethnicity, sex and race should the bank complete HMDA as the information has not been provided or complete those questions with the race ethnicity and sex provided by the applicant? There are a few different opinions being given.

Incomplete App & Reg B Adverse Action Notices

05/28/2012

I was asked by a peer about "mortgage bot" application entered on the Internet that were not submitted and not complete to meet the 5 criteria to be a mortgage application (SS#, name, address, loan number and product). I was asked if they require a Reg B adverse action notice. I view them as an incomplete application which technically wasn't even submitted and not Reg B compliant. Am I right these are not applications and do not fall under the Reg B requirement of adverse action notices? They do not fall under HMDA requirements and I do not believe they should be reg B required either. If I didn't have a name or an address I couldn't mail them out even if I wanted to.

"I Do Not Wish to Provide"- Complete the GMI?

05/21/2012

Do we need to complete the government monitoring information on the mortgage application taken over the phone or submitted by mail when the borrower has selected "I do not wish to provide"? If yes, do we use surname to make the choice?

Disperse Loan on 4th Day of Rescission Period?

04/16/2012

Are we required to disburse a loan on the 4th day of the Rescission period? We have some lenders believing they can disburse the loan any time after the 4th day. As a result, I have run into problems such as when to date the loan on the system and what action taken date to use for HMDA reporting.

Pages

Most Popular Lending Content

HMDA reporting and loan purpose

11/17/2024

If we have a consumer HELOC denial with the stated purpose of "purchase land to build a gas station," is it HMDA reportable?

HELOC historical table and SOFR

11/17/2024

Reg Z section 1026.40 requires us to disclose a historical table to reflect the most recent 15 years of index values. However, SOFR has only been available since 2018. Do we only need to disclose the years starting from 2018 even when the length of the plan is more than 15 years?

Administrative loan renewals and interest rate change

11/10/2024

I continue to get push back from our lenders to change rates when we have Administrative Renewals. Reason for an Admin Renewal may be that the customer does not have a current Tax Return or Personal Financial Statement. Our current practice, when doing an Admin Renewal, is to only extend the maturity date by 90 day and make NO other changes. Is anyone else making rate changes at the time of Admin Renewals or doing them for longer than 90? Is this a regulatory issue with commercial and/or consumer loans and if so, what regulation would we be violating?

Pages

Latest Top Stories View All

Search Topics

Lending Topics

Lending Related