12/05/2011
I have a real estate loan that the customer checked on the GMI information that they do not wish to furnish this information. We are HMDA reportable. Do I use visual observation to complete the information on the LAR?
08/29/2011
We are doing a primary residence construction loan on 102 acres of land. The borrower already owns the land the home is being constructed on and we are using it for collateral. We have committed to end financing already. Do we disclose ETIL at the time of consummation of the construction loan? It will be an open-end line of credit until home completion.
05/02/2011
I have an initial TIL question. If we receive an application on a Thursday, what day would be the end of our three days? Our bank is open six days but our loan processing/servicing area only works Monday-Friday.
03/07/2011
My question pertains to government monitoring information collected on loan applications. If an application is received in the mail or dropped off at our bank and the government monitoring information section is only partially completed (the ethnicity or race box may not be marked), does responsibility fall on the representative handling the application to complete the sections not documented by the applicant?
01/24/2011
If we receive a closed end consumer residential ARM loan application via email, when are we supposed to send the CHARM booklet and ARM early disclosures: the day we gave the application to the customer to be filled out or the day we received the application from the customer?
08/09/2010
Does the Right to Receive Copy of Appraisal have to be dated the date of application or can it be dated the closing date?
08/02/2010
On Oct 5, 2009, Dan Persfull responded to a question regarding the new seven business day waiting period under TILA. He responded by stating that the seven days start the day after the disclosures are delivered or placed in the mail. However, commentary to Reg Z states that the seven business days start the day disclosures are placed in the mail. Please clarify.
07/26/2010
We received an application by mail, which the customer dated 4/16, but we did not receive it until 5/3, because he rode around with it for a week or so. What date do we put on our GFE? On what date does the three days start - from the date we receive it or the date that he signed the application?
06/07/2010
Under the new RESPA rules, when there is a changed circumstance and the GFE needs to be revised based on the change and is provided within the three days of when the change occurred, is there any additional waiting period before we can close the loan?
05/24/2010
We have several loan production offices. They don't have cash drawers, are not listed as branches, and they don't service the deposit customer walking in off the street. Do we need signage such as the FDIC stickers? What if a courier for the bank picks up some proof work where only our employees make deposits instead of running to a branch?