03/31/2024
Is redlining real? It seems to be an antiquated type of violation.
03/03/2024
I thought that the CFPB came out and said that banks could no longer engage in MSAs because of a large enforcement action?
02/25/2024
Is it a problem if the mortgage brokers that we use invite some of our lenders to parties to celebrate milestones like year-end celebrations where loan closing goals were met?
02/18/2024
Would it be considered an issue if we “favor” the loan applications that are sent to us from one real estate agency over another if they just send us more of them?
02/11/2024
Is it okay for us to share subscription services that the bank has access to with our mortgage service providers?
02/04/2024
What is the big deal with a mortgage loan originator trying to increase their sales volume by promoting the realtors that they work with and that they know also do well? Doesn’t this ultimately help everyone in the bank to do better too?
01/28/2024
Are Marketing Servicing Agreements or MSAs legal?
01/07/2024
Is the any regulation that prohibits a credit union member from paying their mortgage ahead by a specific number of months?
12/31/2023
The initial and locked Loan Estimate (LE) on an ARM loan was based off the WSJP index. When it was time to issue the initial Closing Disclosure (CD), the WSJP index had increased causing the APR on the CD to be about 1/2% higher than on the last LE. Should we adjust the index value on the CD to match the index value used on the LE to keep the APR within tolerance, or do we need to update the index value to the current value and redisclose the LE and then inssue an initial CD?
12/17/2023
Are there alternatives to extensions are others using when dealing with construction-to-perm loans that are not finished my maturity?
We are considering the possibility of advancing any remaining proceeds available on the loan to a checking account, which would have a hold to prevent use outside of the original agreement, and starting P&I repayment rather than extending the loan. We would continue to draw those funds to complete construction, just from the checking account rather than the loan itself. Curious if there are any drawbacks or compliance issues with this method.