Questions about mortgage loans

    • [DOC File]Proposal 2008-1

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      Appendix A - Questions and Answers, Continued. ... it is the lender's responsibility to comply with ECOA provisions when originating mortgage loans. While VA loan underwriting personnel must have a basic understanding of ECOA and other regulatory compliance issues, the …

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    • [DOC File]MAINE MORTGAGE LENDING FREQUENTLY-ASKED …

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      Certain questions pertain only to Proprietary Reverse Mortgage Loans as defined above. An answer of NA is acceptable wherever a question does not apply. Module 3 is to be used as an additional checklist for FHA insured reverse mortgages (HECMs); however, Module 3 is …

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    • Reverse Mortgage Examination Guidelines

      A higher-priced mortgage loan is either a “non-traditional” mortgage loan (meaning, generally, a loan that allows a borrower to defer interest or principal), or a rate-spread mortgage loan, meaning that that the loan exceeds the average prime offer rate by 1.5 or more percentage points for loans secured by a first lien on a dwelling, or by ...

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    • [DOC File]Loan Processing Test Plan | RBCS

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      1. Using system reports, select a sample of 25 loans that were opened since the prior audit date. The sample should encompass all types of direct loans including personal, autos, boats, mobile homes, unsecured loans, recreational vehicles, motorcycles, stocks & bonds, single payment, etc. 2. For each loan selected, perform the following: a.

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    • [DOC File]Appendix A - Questions and Answers

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      –The mortgagee reviews EITHER:1) 3,500 or fewer FHA loans per year - 10% of all loans closed; OR2) More than 3,500 FHA loans per year – either 10% of all loans OR a random sample that provides 95% confidence level with 2% statistically valid confidence interval.

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    • 21 Mortgage Questions That Are Frequently Asked, Answered | Th…

      The tangible net benefit test applies to subprime mortgage loans, not all residential mortgage loans. Subprime loans include nontraditional mortgage loans, rate spread home loans and high-rate high-fee loans. Nontraditional mortgage loans are defined as those that allow a borrower to defer repayment of principal or interest.

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    • [DOCX File]QUALITY CONTROL PLAN CHECKLIST FOR LOAN …

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      The Owner shall complete the following questions and attach verification as applicable. Describe the Transfer of Ownership request (i.e., arms-length sale, related party transfer, etc.) Describe any deferred maintenance and/or repairs that will be completed by the Owner prior to the transfer of Ownership (must be verified completed prior to ...

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    • [DOCX File]Application Form: Loan Transfer of Ownership and Assumption

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      The test team shall write an accurate, concise, thoroughly-edited, well-conceived, high-quality bug reports. Comments, questions, or concerns about this process or the quality of the bug reports coming from MTG during System Test should be directed to the Rex B. To avoid test escapes, the testers shall adopt an active bias towards bug reporting.

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    • [DOC File]Audit Procedure - ACUIA

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      Key Questions. Yes No Is the proposed mortgage higher than 80 (85% on Non-Profit) percent of the lender’s concluded value? Is the debt service coverage of the loan less than 1.45? Is the project being underwritten at an NOI that is significantly above historical NOI (factoring in normal increases in government payables)?

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    • [DOC File]MAINE MORTGAGE LENDING FREQUENTLY-ASKED …

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      Unpaid Loans – outstanding mortgage loans, owned by you, that have an unpaid balance. Past Due Loans – mortgage loans as of December 31st where a borrower is 30 days or more past due on payment. For instance, a loan is considered delinquent if the November 1st installment has not been received by the servicer by December 1st.

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