RSK.IQ Archives • Page 56 of 122 • RSK Compliance Solutions LLC

RSK.IQ Question of the Week 9/11/17

Posted on September 11, 2017September 26, 2017 by RSK.IQ.Staff

What NMLSR ID Should be Used When the Loan Officer Changes?

Issue/Inquiry

The loan officer who received the application for a residential mortgage loan is no longer with the Bank, and his name and NMLSR ID appear on the Loan Estimate (“LE”). Should a new LE be prepared? What else must be done to reflect the change?

RSK.IQ Question of the Week 9/5/17

Posted on September 5, 2017September 26, 2017 by RSK.IQ.Staff

CRA and Qualified Investments

Issue/Inquiry

What are the criteria by which the Bank should review municipal bonds and mortgage-backed securities to identify what would be considered as “qualified investments” under the Community Reinvestment Act (“CRA”)?

RSK.IQ Question of the Week 8/28/17

Posted on August 28, 2017September 26, 2017 by RSK.IQ.Staff

TRID and a Decrease in the Seller Assist

Issue/Inquiry

The Bank is financing the purchase of a home. The buyer and seller have agreed to reduce the amount of the seller assist. Does the Bank have to send a revised Loan Estimate within three days of being notified of the change, or can this just be disclosed on the Closing Disclosure?