Most Popular Lending Content
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!
Managing construction loan disbursements
08/18/2024
Can a dividend-bearing restricted account be used instead of an escrow account for a construction loan?
Streamlining audit preparation with electronic loan documents
08/18/2024
Why might a virtual audit preparation require less administrative effort?
Documentation of approved/withdrawn applications
08/18/2024
I am auditing our withdrawn files. I was looking at a number of Approved-Withdrawn files and I was wondering if any documentation or any notation is needed?
The ARM notice is giving a customer major heartburn
08/11/2024
A customer just received her initial ARM adjustment rate notice, and is kind of flipping out. She thought she was paying a lot more toward principal, and with the rate now adjusting up, she is even more dismayed to see how much will be going to interest. Do we HAVE to break down the principal and interest amounts on her ARM notice, or may we just say the total projected amount?