Predatory mortgages, discouraged by TILA section 32
Learn what a Section 32 loan is, and why MLOs try to avoid originating these types of loans.
Read Moreby Carrie B. Reyes | Jan 15, 2024 | Feature Articles, Finance, Loan Products, Real Estate | 0
Learn what a Section 32 loan is, and why MLOs try to avoid originating these types of loans.
Read Moreby Carrie B. Reyes | Jan 8, 2024 | Appraisal, Finance, Real Estate | 0
A Section 35 higher-priced mortgage loan classification triggers certain appraisal report requirements.
Read Moreby Carrie B. Reyes | Jan 2, 2024 | Feature Articles, Finance, Laws and Regulations, Loan Products, Mortgages, Real Estate | 0
Learn the ten prohibited lender actions which protect the borrower after origination of a high-cost (Section 32) consumer-purpose mortgage.
Read Moreby Carrie B. Reyes | Jan 2, 2024 | Laws and Regulations, Mortgages, Real Estate | 0
Several repayment provisions in the note documenting a Section 32 mortgage origination are restricted in their scope — or outright prohibited.
Read Moreby Carrie B. Reyes | Dec 26, 2023 | Finance, Loan Products, Real Estate, Your Practice | 0
Learn when a consumer-purpose mortgage falls under Section 32 limitations and disclosure rules.
Read Moreby Carrie B. Reyes | Dec 20, 2023 | Appraisal, Feature Articles, Finance, Real Estate, Video | 0
Fee appraisers are to be compensated by mortgage lenders and their agents at a reasonable rate – but there are exceptions that effectively gut this rule.
Read Moreby Carrie B. Reyes | Dec 18, 2023 | Feature Articles, Finance, Loan Products, Mortgages, Real Estate, Video | 0
Part 2 of this video series provides examples for how MLOs can determine whether a transaction is subject to Section 32 compliance.
Read Moreby Carrie B. Reyes | Dec 7, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Your Practice | 1
This video covers delivery of the Loan Estimate and Closing Disclosure.
Read Moreby Carrie B. Reyes | Nov 27, 2023 | Finance, Interest Rates, Loan Products, Mortgages, Real Estate | 0
A consumer-purpose mortgage origination secured by the borrower’s primary residence earns a Section 32 designation based on a three-step set of APR tests.
Read Moreby Carrie B. Reyes | Nov 24, 2023 | Appraisal, Finance, Real Estate, Video | 0
An appraiser must not have a direct or indirect interest, financial, personal or otherwise, in the property they have been retained to prepare an appraisal.
Read Moreby Carrie B. Reyes | Sep 13, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 1
In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
Read Moreby Carrie B. Reyes | Aug 16, 2023 | Feature Articles, Finance, Mortgages, Real Estate | 0
Part 2 explains ECOA-mandated disclosures advising the borrower of the action the lender has taken on the borrower’s mortgage application.
Read Moreby Carrie B. Reyes | Aug 9, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Video | 0
This video covers the disclosures advising the borrower of the action the lender has taken on the borrower’s mortgage application.
Read Moreby Carrie B. Reyes | Aug 3, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Video | 0
Which disclosures are required by the FCRA when a loan is denied, instead of approved?
Read Moreby Carrie B. Reyes | Aug 3, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Video | 0
When a loan is denied, instead of approved, the FCRA requires the loan originator to disclose the adverse action.
Read Moreby Carrie B. Reyes | Jul 18, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Video, Your Practice | 0
Part 2 of this video reviews CFL and MLO licensing by the DFPI, consumer mortgage originating, and reporting under the CRMLA.
Read Moreby Carrie B. Reyes | Jul 18, 2023 | Feature Articles, Finance, Real Estate, Video, Your Practice | 0
This video reviews CFL and MLO licensing by the DFPI, consumer mortgage originating, and reporting under the CRMLA.
Read Moreby Carrie B. Reyes | Jul 13, 2023 | Feature Articles, Finance, Real Estate, Video, Your Practice | 0
While no guidelines exist for an “ideal” mortgage ad, there are standards an MLO needs to follow.
Read Moreby Carrie B. Reyes | Jul 5, 2023 | Feature Articles, Finance, Loan Products, Real Estate, Video | 0
This video discusses the rules governing telemarketing campaigns conducted by mortgage loan originators (MLOs).
Read Moreby Carrie B. Reyes | Jun 28, 2023 | Feature Articles, Finance, Loan Products, Mortgages, Real Estate, Your Practice | 0
Mortgage Concepts is a recurring video series covering best practices and compliance education...
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