Most Popular Lending Content
Does E-SIGN consent cover future loans?
09/08/2024
When a borrower consents to do business electronically and the loan pays off and at sometime in the future he applies for a new loan, do we have to get a new consent to do business electronically?
Related entity tracking
09/01/2024
What is related entity tracking?
Data fields for related entities tracking
09/01/2024
Which data fields are important for tracking related entities?
Recording Fees on the TRID Closing Disclosure
08/25/2024
I have discovered that the Other Costs section of our Closing Disclosure does not list the mortgage release fee of $27 in the details, but it is included in the total amount of Taxes and Other Government Fees. I was told that it can be seen in nCompass, but doesn't pull over to the Closing Disclosure. Is the description of each fee required to be listed under the Other Costs section of the Closing Disclosure?
Loan estimates and referrals to subsidiary insurance
08/25/2024
We are in the process of implementing an insurance agency subsidiary owned 100% by the bank. We will not be quoting the agency’s rates on LEs or listing the insurance agency on the Services You Can Shop for Disclosure. However, our lenders will be referring mortgage loan customers to the insurance agency, so my understanding is the referral is what triggers the Affiliated Business Arrangement Disclosure requirement. So we are trying to figure that out. My question is, how should we provide an estimated range of charges for insurance? That could be vastly different depending on the home, location, etc. Any guidance would be greatly appreciated!