Vendor Guru Q&A - Lending

Latest Lending - Right of Rescission Topics

Is this the Advice of a Good Attorney

11/01/2004

What is the thought on attorneys who say it is okay to go ahead (they do not plan on rescinding) and sign the Right of Rescission so that they are not inconvenienced by coming back to the office?

Rescission, New Loan, New Lender

09/20/2004

Is right of rescission applicable on a transfer of lien from another lender on a customers primary residence?

Signature to Affirm No Rescission

09/06/2004

How many banks require the customer to sign an acknowledgment that they have not exercised their right of rescission before funds are advanced? We raise the question because the regulation does not require such an acknowledgment; however, we have been told that unscrupulous lawyers can use it as a loophole.

Waiving the Right of Rescission

08/16/2004

Is it required to have a 3 day right of rescission on all refinances if the customer does not want to wait the 3 days? Can the customer request and get a waiver?

Does a Rescission Form Go To Each Person

06/21/2004

Can both parties involved in a loan sign the same receipt on the right of rescission, or do they need to sign separate pieces of paper?

Does PMI require a Rescission

05/03/2004

When you renew a loan with now new funds, but there is PMI, is a rescission notice required?

Rescission on Interest and Fees

05/03/2004

Does the right of rescission apply when a customer refinances and we include the accrued interest and closing costs? We are the original lender.

Exercising Rescission on Saturday

04/19/2004

A customer's right of rescission ends midnight Saturday. How can they effectively rescind on a Saturday?

Right of Rescission

02/02/2004

I saw the question on HELOC's and if you need a 3 day ROR.The answer was "Yes always", what if it is secured with rental property that is not the applicants primary residence?

Double Interest During Rescission Period

02/02/2004

This question is in relation to Reg Z's right of rescission. On a loan that is subject to right of rescission, we can start to accrue interest as of the date of the loan, not the rescission date. However, if we pay the loan off as of the date the loan comes out of recission, the customer will be paying double interest during that rescission period. Is this allowable?

Latest Lending - Right of Rescission Topics

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