09/29/2024
When you are doing a modification to change a payment date on a loan do you need to give the Fed Box or other Reg Z disclosures?
09/29/2024
Should the guarantor of a mortgage loan receive a loan estimate?
09/22/2024
An auditor just told us we have an APR violation on a TRID loan, and we need to make restitution to the borrower. Don’t we need to send a corrected Closing Disclosure too?
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?
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!
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?
07/14/2024
Will section 1071 rules be covered in the program?
07/14/2024
I’ve been hearing a new mortgage ad slogan: “Date the Rate, Marry the Home”. What is this all about, and should we adopt it too? It is catchy, and might garner us some new loan apps.
07/14/2024
Are escrows required for commercial loans?
07/07/2024
Are buydowns the same as discount points?