01/25/2010
Is it a requirement to give a customer an amortization schedule if there is no mortgage insurance on the loan?
11/23/2009
Do you have to include the escrow portion of the payment on the TIL for Reg. Z purposes? If an escrow payment increases during the life of an HPML, do we need to re-verify income based on the new payments?
07/13/2009
We require that our members have an escrow account to pay their real estate taxes, homeowners insurance and PMI bills. When a member pays off his first mortgage, are we allowed to deduct the escrow balance from the payoff amount or do we have to refund the balance of the escrow account to the member? We have attended compliance seminars that advise us to refund the balance to the member however, our system is set up to deduct the escrow balance from the payoff amount.
03/30/2009
When doing a loan with PMI, are we required to send out an amortization schedule with the GFE at the loan closing? Are we then required to keep a copy as proof of this in the loan file?
03/16/2009
If a customer purchases a 1-4 residential property as their primary residence and needs PMI, can we change the LTV ratios four years later when it is no longer their primary residence if we do not disclose this to them?
02/16/2009
If a customer purchases a 1-4 residential property, as their primary residence and needs PMI, can we change the LTV ratios 4 yrs later when it is no longer their primary residence, if we do not disclose this to them?
12/08/2008
Our bank requires PMI on real estate loans with a LTV over 80%. We use one mortgage insurance company, so do we need to disclose that company as a required provider?
07/07/2008
Is a PMI disclosure required for a non-owner occupied property?
04/28/2008
In the calculation of fees subject to HOEPA on covered loans, do you include the entire mortgage insurance premium or only the amount paid at closing?
06/18/2007
Even though Part 365 of the Real Estate Lending Standards states that a 1-4 family owner occupied LTV percentage is 85%, is it acceptable to go to 90% if our loan policy discloses such?