Most Popular Lending Content
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.
Increasing the amount of a HELOC
04/13/2025
What is needed to increase the amount of a home equity line of credit (HELOC)?
Oops! We forgot to charge a fee.
04/13/2025
We added an E-sign fee to our HELOC in July 2024. On a couple of loans booked after that the new fee was forgotten and not charged. What should we do to rectify this?