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Chicago Illinois Homes For Sale, Chicago IL Real Estate
Questions & Answers
Get the answers on home selling and buying.
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Whom to Contact (Other Mortgage Considerations) - Q & A
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Where do I get information on who regulates lenders?
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The following regulatory bodies oversee lenders: * Comptroller of the Currency, Compliance Division, Washington, D.C., (800) 613-6743.
* Office of Thrift Supervision, Consumer Affairs, Washington, D.C., (202) 906-6237.
* Federal Deposit Insurance Corp., Consumer Affairs, Washington, D.C., (800) 934-3342.
Your state departments of real estate or commerce also may regulate the lenders in your area.
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Where do I get information on finding the best loan?
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For information on how to find the best home loan, check out this booklet: * "How to Shop for a Mortgage," by the Mortgage Bankers Association of America, 1125 15th St., N.W., Washington, DC 20005; call (202) 861-6500.
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Where do I get information on lock-ins?
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For information on lock-in mortgage rates, check out this brochure: * "Consumer?s Guide to Mortgage Lock-Ins" from the Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA 94120; or call (415) 974-2163 to order.
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Where do I get information on mortgages?
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For information on mortgages, check out the following sources for information: * American Bankers Association; (202) 663-5000. * Mortgage Bankers Association of America, 1125 15th St., N.W., Washington, DC 20005; (202) 861-6500.
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Where do I get information on correcting loan payments?
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The following auditing services can do a thorough review of residential mortgages for lender calculation errors: * Mortgage Monitor; 1372 Summer Street, Samford, 06905; (800) AUDIT-USA. * Loantech, (301) 762-7700. But keep in mind that these services come with a fee, and your lender should be able to work with you to make your own accurate calculation.
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Where can I get a list of mortgage brokers?
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For information on mortgage brokers, contact the National Association of Mortgage Brokers at (703) 610-9009
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Where do I get information on refinancing?
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For information on refinancing, the following booklet may be helpful: * "A Consumer's Guide to Mortgage Refinancings;" Federal Reserve Bank of San Francisco, Public Information Department, P.O. Box 7702, San Francisco, CA 94120; call (415) 974-2163 to order.
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How do I monitor my ARM loan?
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Consumer Loan Advocates publishes a book with form letters and worksheets to help people who want to check mortgage payments or adjustments on their own. It costs $19.95 plus $4 shipping and handling. For a copy, write or call Consumer Loan Advocates, 655 Rockland Road, Lake Bluff, IL 60044; (847) 615-0024.
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Copyright 1999 Inman News Features
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