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Would the EHL logo only be required if we are advertising a specific loan or is it required when advertising our Mortgage Department in general (since they only do mortgage loans)?
Here is an example:
CBandT Mortgage Loans
Competitive Rates, Products & Fees
Financing Your FutureAnother example:
Get Pre-Qualified Today
Connect With Our Mortgage Experts
To Make Your Dreams A RealityNo, this was actually not a rescission issue, the HELOC was withdrawn – it never closed. The LO was just able to collect the fees from the customer and we actually received a check even though the loan never closed.
We are looking at 1026.40. Can you tell us what would be a non-refundable fee? Can any fee be considered a non-refundable fee? Do we have to disclose that a fee is a non-refundable fee? Is this required to be disclosed in the HELOC application disclosure?We went back to the closing agent – it was a misunderstanding. They incorrectly interpreted what the title underwriter stated.
I want to add to this that in most cases we would know at the time of disclosure who the customer wants to use – but it will be very time consuming to set all possible settlement agents in the system. Does this make a difference?
So because it is financed, it is therefore included in the principal (payment), so we do not add them to the principal and interest? So in this example where prepaid interest and closing costs are financed into the loan amount, we would NOT add prepaid interest and total loan costs to the In 5 Year amount because they are already included? By chance do you have a citation or guidance (in a manual or somewhere else) that specifically discusses what to do if fees are paid in cash or just financed?
