§ 1024.35 Error resolution procedures.
Failure to transfer accurately and timely information relating to the servicing of a borrower's mortgage loan
- 1024 (Regulation X)
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Failure to transfer accurately and timely information relating to the servicing of a borrower's mortgage loan
loss mitigation options available to a borrower from the owner or assignee of the borrower's mortgage loan
Use of “We will charge the loan account” instead of “You must pay us” in notices relating to force-placed
(ii) In a conversation with the creditor's loan officer, the consumer informs the creditor that the consumer
An itemization of loan terms, charges, the age of the youngest borrower and the appraised property value
(iv) A statement that, if the loan is sold, the new covered person, using the term “lender,” may have
(i) The term of the loan, which is the period during which regularly scheduled payments of principal
(ii) The term of the loan, which is the period during which regularly scheduled payments of principal
(B) The maximum possible rate of interest for the loan or, if a maximum rate cannot be determined, a
(b) An individual engages in the business of a loan originator if the individual, in a commercial context
(i) Contacting a consumer to verify the information in the loan application by obtaining documentation
Act licensing requirements on any individual loan processor or underwriter who, for example:
Under § 1026.35(c)(2)(i), a loan is exempt from the appraisal requirements of § 1026.35(c)
The remaining loan term as of March 1, 2016, the date of the recast, which is 28 years (336 monthly payments
The remaining loan term as of March 1, 2016, the date of the recast, which is 28 years (336 monthly payments
balloon-payment instruments where the creditor is both unconditionally obligated to renew the balloon-payment loan
In some cases, amounts received by the loan originator organization for payment for third-party charges
Qualified mortgage status under § 1026.43(e)(4) depends on whether a loan is eligible to be purchased
initiating any further payment transfers from the consumer's account in connection with any covered loan
into an agreement or understanding with you whereby you undertake to arrange or broker a home mortgage loan
(1) No loan originator shall receive compensation, directly or indirectly, from any person other than
(iv) A statement that a covered educational institution may have school-specific education loan benefits
) Restrictions on Making Certain Covered Loans and Non-Covered Loans Following a Covered Short-Term Loan
agreement between the originator and the creditor governing the originator's submission of mortgage loan
The remaining loan term as of March 1, 2019, the date of the recast, which is exactly 25 years (300 monthly