Profile for User: elebra

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  • December 17, 2013 at 12:07 pm EST in reply to: Small Creditor QM DTI Loan Policy Exception #4492
    elebra
    Participant

    What if our policy stats that at consummation, DTI will not be above 36%. Initial rate has payment below 36% but when we “payment shock” it, it is above 36%. I know there is no limit for the small creditor but would this be an exception?

    November 7, 2013 at 12:05 pm EST in reply to: ARM notices #4270
    elebra
    Participant

    I know I was the original poster but I’m still confused. Can you tell us in simple English what our notes should say to have a 45 day lookback? Everything says you’ll need to update your contracts…I don’t know what they should say to make it right.

    October 21, 2013 at 11:10 am EDT in reply to: Regulation Z- ARM notices #4073
    elebra
    Participant

    I went to a lending seminar Jack did and he brought up that our notes may need to be modified and the customers notified in regards to the new ARM notices and when the rate is calculated…this was the first I’ve heard about this. What exactly would our notes need to say or not need to say in order to need to be modified? I am so confused about this part.

    May 3, 2013 at 4:03 pm EDT in reply to: Kentucky Derby Horse #3073
    elebra
    Participant

    Goldencents

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Viewing 4 posts - 16 through 19 (of 19 total)
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