January 20, 2014 at 10:29 am EST
#5015
rcooper
Member
I agree there are steering concerns. In order to negate those you would need to present the applicant with loans options for each type of transaction (fixed rate, variable/adjustable rate, or reverse mortgage) in which they expressed an interest.
You can find what needs to be presented as part of the loan options in 1026.36(e)(3).