08/04/2008
We have a bank director who is wanting to refinance his second home with us. It is currently at another bank and is maturing. What documents do we need for CIP?
10/08/2007
When is it required to charge GRMA? Is it on all residential (1-4) property or just when recording DSD on a principal dwelling?
04/03/2006
For residential mortgages, are there any occasions when a Notice of Right to Cancel is not required (on purchases and non-owner occupied properties)?
08/01/2005
A new type of scam that targets properties in distress has been identified in several states where pricing "bubbles" mean house prices have surpassed many people's ability to keep up with house pay
07/01/2005
Bankruptcy reform, which was 8 years in the making and vetoed by President Clinton, finally became a reality April 20 when President Bush provided his signature to a new bankruptcy law.
05/16/2005
According to "A Guide to HMDA Reporting Getting It Right!" effective 1/1/04, the definition of a reportable refinancing is "any dwelling-secured loan that replaces and satisfied another dwelling-secured loan to the same borrower. Please define "satisfies and replaces". Does this require cancellation of the current loan promissory note and recording of a satisfaction of lien for the current security instrument/mortgage consequently being replaced by a new note and execution of new lien/mortgage, or does cancellation of existing note followed by a new note qualify as a "refinance" (the existing lien instrument/mortgage stays intact)?
03/21/2005
According to "A Guide to HMDA Reporting: Getting It Right!" effective 1/1/04, the definition of a reportable refinancing is "any dwelling-secured loan that replaces and satisfies another dwelling-secured loan to the same borrower." Please define "satisfies and replaces." Does this require cancellation of the current loan promissory note and recording of a satisfaction of lien for the current security instrument/mortgage, followed by a new note and execution of a new lien/mortgage? Or does cancellation of the existing note followed by a new note qualify as "refinance" (existing lien instrument/mortgage stays intact)?
02/01/2005
Want to know what you're doing wrong in the field of online banking? Several research companies are more than glad to provide that information.
08/01/2002
HUD has published a proposal to make significant changes to the Good Faith Estimate that lenders issue within three days of taking an application. HUD calls this a "simplification" of the GFE.
07/01/2002
Is there a simplified summary of the current, pending HOEPA changes/regulations, pertinent to a mortgage nondepository lender?