"My Dad lives in California (Northern) and owns 40 acres that has been up for sale for almost a year at 699k. He has found his dream home in Montana for sale for $699,000. The seller is willing to do a seller carried second with no interest for 3 years to give my dad time to sell his land. He then would be responsible for obtaining a new loan for the 1st. 50% LTV 1st and as much for the 2nd as is possible--i. e least money down as possible. He works in California and so does his wife. They need to..."    View Post

"I purchased a lot of land in my name only. I got a construction loan in mine and my husband's name. We are now attempting to refinance the construction loan into regular conventional financing. Because I have a trust income that is declining slightly and bring in a lot of debt the broker said I have to be removed from the loan and my husband would be the only one on the new loan. That was fine with me. But NOW the lender is saying that because I was the only one on the lot originally (REGARDLESS..."    View Post

"I was asked by a borrower to order a FHA appraisal on her home before we did a "official" loan application. We collected $400.00 for her appraisal. When the appraisal was completed she decided to hold off on the loan. She has now came back to us to continue the refinance. My question is how do I handle the fact that the appraisal was done in June, paid for by her in June and the new disclosures will be dated today?? With all the new Reg changes I'm not sure what to do..... there is..."    View Post

"Hubba Bubba, You are correct, HVCC is not the enemy. However all of the major lenders I work with choose to use a AMC to become HVCC compliant. I have had huge quality issues with the appraisals that I have received from the AMC. For example, wrong house picture of the subject property, not explaining why they used certain comps over others, 25% or more adjustments, etc. I have had NO ISSUE with value on any of these appraisals. But here is the problem, once the appraisal is delivered to the underwriter..."    View Post

"I'm not positive if there is a specific regulation or act covering this breach of privacy. However, every bank has some sort of internal policy about revealing confidential information to another party. To be specific, I work for a small bank -- about 7 branches and we have a policy that if we reveal confidential information about a bank customer that is grounds for dismissal. If the bank is local and small I would call and ask for the head of compliance or BSA officer. They should be able to..."    View Post