This release applies to all credit unions offering construction loans.
Contents:
- Construction Loan Risks
- Unsafe and Unsound Practices
- Documentation
- Interest
- Truth in Lending
- TILA-RESPA Integrated Disclosure rule (TRID)
- APRs on Construction Loans
- Appraisals
- Flood insurance
- Home Mortgage Disclosures Act (Regulation C)
- IRS Information returns reporting
- Real Estate Settlement Procedures Act (RESPA)
- Wisconsin’s first mortgage lending laws
- Exhibit A − NCUA Examiners Guide checklist for construction lending controls
- Exhibit B − Reg Z § 102617(c)(6) (i)-(ii) and related Commentary –Truth in Lending basis of disclosure of construction loans
- Exhibit C − Reg Z Appendix D and related Commentary – Multiple Advance Construction Loans
- Exhibit D − Know Before You Owe Mortgage Disclosure Rule – Construction Lending Index