HELOCs and escrow for flood--are they always exempt even if in 1st position?
Yes, that's correct--there's a specific exemption for HELOCs in and of themselves:
§339.5 Escrow requirement.
(a) In general—(1) Applicability. Except as provided in paragraphs (a)(2) or (c) of this section, an FDIC-supervised institution, or a servicer acting on its behalf, shall require the escrow of all premiums and fees for any flood insurance required under §339.3(a) for any designated loan secured by residential improved real estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016, payable with the same frequency as payments on the designated loan are required to be made for the duration of the loan.
(2) Exceptions. Paragraph (a)(1) of this section does not apply if:
(iv) The loan is a home equity line of credit;
So the loan doesn't necessarily have to meet one of the other exemptions, like the lien position exemption for example, in order to be exempt from the escrow requirement.
I pulled a flood certification in which there is one parcel of land but multiple, nonresidential buildings on that piece of land. The provider did not include a schedule of the buildings. All the buildings are in a flood zone, and the provider sent an aerial view of all the buildings in the flood zone, which is attached to the determination. There will only be one policy and not a separate policy per building. Is an aerial view sufficient, or do I need a schedule in order to proceed?
In this situation you are going to either need a separate form per building or a schedule that separately lists all the buildings and their determinations. It is not sufficient to only have an aerial view.
MULTIPLE BUILDINGS: If the loan collateral includes more than one building, a schedule for the additional buildings/mobile homes indicating the determination for each may be attached. Otherwise, a separate form must be completed for each building or mobile home.
FEMA, SFHDF Instructions, p. 3: https://www.fema.gov/media-library-data/20130726-1438-20490-8829/086_0_32.pd
Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered?
No, you’re not required to provide the time requirements in 1030.8(c)(6)(i) when you are only advertising CDs generally and not a specific product. The time requirements are required when you are advertising a specific Annual Percentage Yield (or a bonus which would trigger the APY). If you advertise the APY, it is considered a “trigger term,” which requires you to provide all of the required information in 1030.8(c), as applicable. Since you are only advertising a general product and no APY, the time period requirement is not necessarily required.
(c) When additional disclosures are required. Except as provided in paragraph (e) of this section, if the annual percentage yield is stated in an advertisement, the advertisement shall state the following information, to the extent applicable, clearly and conspicuously:
(6) Features of time accounts. For time accounts:
(i) Time requirements. The term of the account.
12 C.F.R. 1030.8(c): https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=d189aebe2c2c59886dd9ec4e4771b7ed&mc=true&n=pt12.9.1030&r=PART&ty=HTML#se12.9.1030_18
For the Reg. DD - "indoor signs" exception in Section 1030.8(e)(2), I see that indoor signs are exempt from: permissible rates, when additional disclosures are required, bonuses, and certain media exemptions. My question is whether "when additional disclosures are required" includes, for example, an advertisement of "free checking" when listing products available on an indoor billboard/peg board if that board does not list features which are listed elsewhere in other advertisements for a given type of checking account and its associated fees?
The rule regarding when the bank can advertise an account as "free" does apply to indoor signs. Indoor signs are excluded from the requirements listed in subsections (b), (c), (d) and (e)(1) but the rule on "free" accounts is in subsection (a) and not excluded: https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1030/8/
(i) Signs inside the premises of a depository institution (or the premises of a deposit broker) are not subject to paragraphs (b), (c), (d) or (e)(1) of this section.
Under Reg. Z, the NMLS ID and name would be required on mortgage, note, application, LE and CD for any dwelling-secured loan. Is that correct?
Reg. Z section 1026.36 requires the NMLS ID to be on the note, security instrument, application, LE, and CD of consumer dwelling secured loans; however, HELOCs are specifically exempt:
(b) Scope. …Paragraphs (d) through (i) of this section apply to closed-end consumer credit transactions secured by a dwelling. This section does not apply to a home equity line of credit subject to §1026.40…
(g) Name and NMLSR ID on loan documents. (1) For a consumer credit transaction secured by a dwelling, a loan originator organization must include on the loan documents described in paragraph (g)(2) of this section, whenever each such loan document is provided to a consumer or presented to a consumer for signature, as applicable:
(i) Its name and NMLSR ID, if the NMLSR has provided it an NMLSR ID; and
(ii) The name of the individual loan originator (as the name appears in the NMLSR) with primary responsibility for the origination and, if the NMLSR has provided such person an NMLSR ID, that NMLSR ID.
(2) The loan documents that must include the names and NMLSR IDs pursuant to paragraph (g)(1) of this section are:
(i) The credit application;
(ii) The disclosures required by §1026.19 (e) and (f);
(iii) The note or loan contract; and
(iv) The security instrument.
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